SPS Commerce (SPSC) Stock Overview
Provides cloud-based supply chain management solutions in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 2/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
Rewards
Risk Analysis
No risks detected for SPSC from our risk checks.
SPSC Community Fair Values
Create NarrativeSee what 11 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
SPS Commerce, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$55.68 |
| 52 Week High | US$145.00 |
| 52 Week Low | US$49.04 |
| Beta | 0.56 |
| 1 Month Change | 5.49% |
| 3 Month Change | -8.28% |
| 1 Year Change | -59.12% |
| 3 Year Change | -68.97% |
| 5 Year Change | -43.62% |
| Change since IPO | 718.82% |
Recent News & Updates
Narrative Update • Jun 05
SPSC: Execution And Buybacks Will Support Rerating Despite Recent Downgrades
Analysts have trimmed their blended price target for SPS Commerce by roughly $8 to reflect updated assumptions on discount rate, revenue growth, profit margins, and future P/E, following a series of target cuts from Citi, Morgan Stanley, Cantor Fitzgerald, and Needham, along with a downgrade from Rothschild & Co Redburn. Analyst Commentary Recent research suggests that, even with trimmed targets and a fresh downgrade in the mix, some bullish analysts still view SPS Commerce as an execution story tied closely to its ability to grow revenue and protect margins over time.Narrative Update • May 08
SPSC: Reset Expectations And Buybacks Will Reframe Sentiment Despite Softer Guidance
The analyst price target for SPS Commerce has been revised lower to $93.92 from $110.00, as analysts factor in softer revenue growth expectations, slightly reduced profit margin assumptions, and a lower future P/E multiple following recent target cuts across the Street. Analyst Commentary Recent Street research on SPS Commerce has centered on recalibrating expectations after quarterly results and updated guidance, with several firms trimming price targets and, in some cases, ratings.Narrative Update • Apr 23
SPSC: Activist Sale Pressure Will Reframe Sentiment Despite Softer Guidance
Analysts have trimmed their average price targets on SPS Commerce, with several firms cutting estimates by $5 to $30 after Q4 revenue came in at the low end of guidance and the FY26 revenue outlook was set at 6% to 7% year over year, compared with a prior 7% to 8% range, reflecting ongoing headwinds in the business. Analyst Commentary Recent research on SPS Commerce has centered on the softer Q4 revenue outcome and the recalibrated FY26 revenue outlook of 6% to 7% year over year, which came in below the prior 7% to 8% range.Recent updates
Narrative Update • Jun 05
SPSC: Execution And Buybacks Will Support Rerating Despite Recent Downgrades
Analysts have trimmed their blended price target for SPS Commerce by roughly $8 to reflect updated assumptions on discount rate, revenue growth, profit margins, and future P/E, following a series of target cuts from Citi, Morgan Stanley, Cantor Fitzgerald, and Needham, along with a downgrade from Rothschild & Co Redburn. Analyst Commentary Recent research suggests that, even with trimmed targets and a fresh downgrade in the mix, some bullish analysts still view SPS Commerce as an execution story tied closely to its ability to grow revenue and protect margins over time.Narrative Update • May 08
SPSC: Reset Expectations And Buybacks Will Reframe Sentiment Despite Softer Guidance
The analyst price target for SPS Commerce has been revised lower to $93.92 from $110.00, as analysts factor in softer revenue growth expectations, slightly reduced profit margin assumptions, and a lower future P/E multiple following recent target cuts across the Street. Analyst Commentary Recent Street research on SPS Commerce has centered on recalibrating expectations after quarterly results and updated guidance, with several firms trimming price targets and, in some cases, ratings.Narrative Update • Apr 23
SPSC: Activist Sale Pressure Will Reframe Sentiment Despite Softer Guidance
Analysts have trimmed their average price targets on SPS Commerce, with several firms cutting estimates by $5 to $30 after Q4 revenue came in at the low end of guidance and the FY26 revenue outlook was set at 6% to 7% year over year, compared with a prior 7% to 8% range, reflecting ongoing headwinds in the business. Analyst Commentary Recent research on SPS Commerce has centered on the softer Q4 revenue outcome and the recalibrated FY26 revenue outlook of 6% to 7% year over year, which came in below the prior 7% to 8% range.
Narrative Update • Apr 09
SPSC: Share Repurchases And Potential Sale Will Support Future Returns
Analysts have trimmed their blended price target on SPS Commerce by $0 overall, reflecting recent target cuts from several firms after Q4 revenue landed at the low end of guidance and the FY26 revenue growth outlook of 6% to 7% came in below the prior 7% to 8% range. Key model inputs such as fair value, revenue growth, profit margin, and future P/E assumptions remain essentially unchanged.Narrative Update • Mar 25
SPSC: Activist Sale Pressure And AI Rollout Will Reframe Sentiment
Analysts have trimmed their blended price target on SPS Commerce by aligning with recent cuts to around $95, reflecting Q4 revenue at the low end of guidance and a FY26 revenue outlook of 6% to 7%, which sits below prior expectations as headwinds persist. Analyst Commentary Even with a reset in expectations around Q4 and the FY26 outlook, some bullish analysts still see room for SPS Commerce to execute on its long term model.Narrative Update • Mar 11
SPSC: Activist Sale Push And AI Suite Will Reset Sentiment
We are lowering our fair value estimate for SPS Commerce to $110 from $125, reflecting analysts' reduced price targets after Q4 revenue landed at the low end of guidance and FY26 revenue growth guidance of 6% to 7% came in below prior expectations. Analyst Commentary Street research after the Q4 print has generally reset expectations lower for SPS Commerce, with several cuts to price targets and at least one downgrade to a more cautious rating.Narrative Update • Feb 24
SPSC: Share Repurchases Will Support Returns As FY26 Headwinds Ease
Our updated narrative on SPS Commerce reflects a lower fair value estimate, moving from about $99.82 to $82.09. This is in line with recent analyst price target cuts that cite softer revenue trends, a more conservative 6% to 7% FY26 growth guide, and a reset to a lower future P/E assumption despite slightly higher projected profit margins.Analysis Article • Feb 15
SPS Commerce, Inc. Just Recorded A 5.8% EPS Beat: Here's What Analysts Are Forecasting Next
One of the biggest stories of last week was how SPS Commerce, Inc. ( NASDAQ:SPSC ) shares plunged 22% in the week since...Analysis Article • Feb 12
More Unpleasant Surprises Could Be In Store For SPS Commerce, Inc.'s (NASDAQ:SPSC) Shares After Tumbling 26%
SPS Commerce, Inc. ( NASDAQ:SPSC ) shareholders won't be pleased to see that the share price has had a very rough...Narrative Update • Feb 10
SPSC: Activist Sale Pressure And New Capabilities Will Support Sentiment Reset
Analysts have maintained their fair value estimate for SPS Commerce at $125.00. Modest adjustments to assumptions around the discount rate, revenue growth, profit margin, and future P/E help explain the updated price target narrative.Narrative Update • Jan 27
SPSC: Share Repurchases And New Products Will Offset Forecasting Setbacks
Analysts now see fair value for SPS Commerce at about US$99.82 per share, up from roughly US$98, as they factor in a slightly lower discount rate, steady revenue growth and margins, and a modestly higher future P/E, despite recent price target cuts tied to softer near term growth expectations and the Q3 revenue miss. Analyst Commentary Recent Street research around SPS Commerce points to a more cautious stance overall, with several firms cutting ratings and reducing price targets after the Q3 revenue miss and updated guidance.Narrative Update • Jan 11
SPSC: Share Repurchases And Product Expansion Will Support Sentiment Reset
Analysts have reset expectations on SPS Commerce, with published price targets moving from a prior range of around $125 to a band of roughly $80 to $110. This shift reflects concerns about constrained near term growth, Q3 revenue shortfalls, and softer guidance.Narrative Update • Dec 25
SPSC: Share Repurchases Will Support Confidence After Growth Expectations Reset
Analysts have reset their outlook on SPS Commerce, cutting the price target from $230 to $125 as they factor in slower expected revenue growth, a higher discount rate and lower peer multiples, even as profit margins are modeled to improve. Analyst Commentary Recent research has highlighted a more cautious overall stance on SPS Commerce, with multiple firms lowering ratings and price targets in response to softer growth expectations and a weaker retail spending backdrop.Seeking Alpha • Dec 17
SPS Commerce: Finally About To See Some Fundamental Support
Summary SPS Commerce has long been combining organic growth with M&A, while it traded at dazzling premiums. Slower organic growth triggered a huge setback in prices and expectations. Though slowing, growth remains solid as fundamental support comes in sight here. Read the full article on Seeking AlphaNarrative Update • Dec 11
SPSC: Share Repurchases And Durable Cash Flows Will Support Future Upside
Analysts have sharply reduced their price targets on SPS Commerce to a range of $80 to $110 from prior levels as high as $170, citing constrained near term growth, a weaker retail end market, and tempered long term growth expectations despite the company’s still solid fundamentals. Analyst Commentary Street research reflects a more balanced but cautious stance on SPS Commerce, with recent notes highlighting both the durability of the business model and the near term pressures on growth, execution, and valuation.Analysis Article • Dec 09
Returns On Capital At SPS Commerce (NASDAQ:SPSC) Have Stalled
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a...Narrative Update • Nov 27
SPSC: Share Buybacks And Cash Flow Will Drive Further Upside
Analysts have lowered their average price target for SPS Commerce. Reductions from firms such as Morgan Stanley, Needham, DA Davidson, and Cantor Fitzgerald cite weaker near-term growth prospects and the impact of a disappointing Q3 revenue performance.Narrative Update • Nov 12
SPSC: Share Buybacks And Cash Flow Will Support Investor Confidence
Analysts have significantly reduced their price targets for SPS Commerce, lowering the fair value estimate from $142.27 to $98.00. They cite constrained near-term growth and ongoing headwinds in the retail end market as reasons for the adjustment.Narrative Update • Oct 29
Recurring Revenue And Market Position Will Drive Potential Upside Into Year End
Analysts have recently reduced their price targets for SPS Commerce. New estimates generally fall in the $125 to $145 range, citing lower peer multiples and expectations for more moderate medium-term growth.Narrative Update • Oct 14
Cloud-based EDI And Omni-Channel Analytics Will Strengthen Retail Supply Chains
Analysts have lowered their average price target on SPS Commerce by approximately $5.55. This adjustment reflects reduced peer multiples and slightly moderated growth expectations following recent earnings and investor updates.Narrative Update • Sep 25
Cloud-based EDI And Omni-Channel Analytics Will Strengthen Retail Supply Chains
Analysts have trimmed their price targets for SPS Commerce to $147.82, citing the company’s transition to a more mature growth phase with tempered expectations and reduced upside catalysts, despite ongoing business model strength. Analyst Commentary SPS Commerce is perceived to have entered a more mature growth phase, prompting lower growth expectations.Analysis Article • Jul 21
Calculating The Fair Value Of SPS Commerce, Inc. (NASDAQ:SPSC)
Key Insights Using the 2 Stage Free Cash Flow to Equity, SPS Commerce fair value estimate is US$150 SPS Commerce's...Analysis Article • Jul 03
SPS Commerce's (NASDAQ:SPSC) Returns Have Hit A Wall
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • Jun 15
Earnings Tell The Story For SPS Commerce, Inc. (NASDAQ:SPSC)
With a price-to-earnings (or "P/E") ratio of 63x SPS Commerce, Inc. ( NASDAQ:SPSC ) may be sending very bearish signals...Analysis Article • Apr 28
Results: SPS Commerce, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
It's been a good week for SPS Commerce, Inc. ( NASDAQ:SPSC ) shareholders, because the company has just released its...Analysis Article • Apr 25
If EPS Growth Is Important To You, SPS Commerce (NASDAQ:SPSC) Presents An Opportunity
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Analysis Article • Apr 10
A Look At The Intrinsic Value Of SPS Commerce, Inc. (NASDAQ:SPSC)
Key Insights The projected fair value for SPS Commerce is US$153 based on 2 Stage Free Cash Flow to Equity With US$136...Seeking Alpha • Mar 25
SPS Commerce: Interesting TAM Expansion And Appears Undervalued
Summary SPS Commerce offers cloud-based SCM software and has delivered strong returns since its IPO, despite recent share price corrections. SPSC's fundamentals are solid, with steady revenue growth, profitability, and expanding operating cash flow, making it a decent growth stock. Future growth catalysts include recurring revenue from acquisitions and tapping into Amazon's FBA seller ecosystem, presenting significant TAM opportunities. My conservative price target of $149.6 per share projects a 15% upside YoY, justifying a buy rating for SPSC. Read the full article on Seeking AlphaAnalysis Article • Mar 25
Returns On Capital At SPS Commerce (NASDAQ:SPSC) Have Stalled
What are the early trends we should look for to identify a stock that could multiply in value over the long term...Analysis Article • Mar 07
Why We're Not Concerned Yet About SPS Commerce, Inc.'s (NASDAQ:SPSC) 27% Share Price Plunge
The SPS Commerce, Inc. ( NASDAQ:SPSC ) share price has fared very poorly over the last month, falling by a substantial...Analysis Article • Mar 04
Is SPS Commerce, Inc. (NASDAQ:SPSC) Potentially Undervalued?
SPS Commerce, Inc. ( NASDAQ:SPSC ), might not be a large cap stock, but it received a lot of attention from a...Analysis Article • Feb 17
SPS Commerce's (NASDAQ:SPSC) Earnings Seem To Be Promising
Despite posting healthy earnings, SPS Commerce, Inc.'s ( NASDAQ:SPSC ) stock has been quite weak. Our analysis suggests...Analysis Article • Jan 16
SPS Commerce, Inc.'s (NASDAQ:SPSC) Price Is Out Of Tune With Revenues
With a price-to-sales (or "P/S") ratio of 11.5x SPS Commerce, Inc. ( NASDAQ:SPSC ) may be sending very bearish signals...Seeking Alpha • Jan 04
SPS Commerce: Continued Dealmaking Adds To The Growth Path
Summary SPS Commerce continues strong growth with organic and M&A efforts, but high valuations and elevated multiples make it unattractive for investment despite solid track record. Recent acquisitions, including SupplyPike and Carbon6 Technologies, boost revenues but come with lower margins. Despite improved earnings projections, realistic earnings remain around $2 per share, making current valuation of 90 times earnings too high. Continued M&A activity and net cash balances support growth, but cautious stance remains due to demanding valuations and modest earnings improvements. Read the full article on Seeking AlphaAnalysis Article • Jan 02
Estimating The Fair Value Of SPS Commerce, Inc. (NASDAQ:SPSC)
Key Insights The projected fair value for SPS Commerce is US$170 based on 2 Stage Free Cash Flow to Equity SPS...Analysis Article • Dec 05
Is Now The Time To Put SPS Commerce (NASDAQ:SPSC) On Your Watchlist?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Analysis Article • Nov 08
Is SPS Commerce, Inc. (NASDAQ:SPSC) Potentially Undervalued?
SPS Commerce, Inc. ( NASDAQ:SPSC ), is not the largest company out there, but it saw a double-digit share price rise of...Analysis Article • Oct 16
SPS Commerce (NASDAQ:SPSC) Is Experiencing Growth In Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'd want to identify a...Analysis Article • Sep 28
SPS Commerce, Inc.'s (NASDAQ:SPSC) Share Price Not Quite Adding Up
You may think that with a price-to-sales (or "P/S") ratio of 12.4x SPS Commerce, Inc. ( NASDAQ:SPSC ) is a stock to...
New Narrative • Aug 27
Critical Expansion And Advanced Technologies Propel Retail Supply Chain Leader To New Heights
Strategic acquisitions and expansion into supply chain optimization position SPS Commerce for revenue growth through upselling and leveraging retailer relationships.Analysis Article • Aug 23
SPS Commerce (NASDAQ:SPSC) Ticks All The Boxes When It Comes To Earnings Growth
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Shareholder Returns
| SPSC | US Software | US Market | |
|---|---|---|---|
| 7D | 0.2% | -8.5% | -4.1% |
| 1Y | -59.1% | -14.0% | 20.6% |
Return vs Industry: SPSC underperformed the US Software industry which returned -12.6% over the past year.
Return vs Market: SPSC underperformed the US Market which returned 22.3% over the past year.
Price Volatility
| SPSC volatility | |
|---|---|
| SPSC Average Weekly Movement | 6.3% |
| Software Industry Average Movement | 9.8% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.6% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: SPSC has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: SPSC's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1987 | 2,948 | Chad Collins | www.spscommerce.com |
SPS Commerce, Inc. provides cloud-based supply chain management solutions in the United States. It offers solutions through SPS Commerce, a cloud-based platform that connects retailers, brands, distributors, manufacturers, and logistics providers, handling the complexity of modern commerce operations. The company also provides Fulfillment, a comprehensive solution designed to streamline supply chain operation that sends and receives order data, ensuring accurate execution of required processes from order to invoicing and revenue recovery through fully automated operations; and Analytics product that simplifies managing sell-through data from customers business partners that handle data acquisition, cleansing, normalization, and delivery.
SPS Commerce, Inc. Fundamentals Summary
| SPSC fundamental statistics | |
|---|---|
| Market cap | US$2.02b |
| Earnings (TTM) | US$90.87m |
| Revenue (TTM) | US$762.08m |
22.5x
P/E Ratio2.7x
P/S RatioIs SPSC overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| SPSC income statement (TTM) | |
|---|---|
| Revenue | US$762.08m |
| Cost of Revenue | US$233.93m |
| Gross Profit | US$528.15m |
| Other Expenses | US$437.27m |
| Earnings | US$90.87m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 2.48 |
| Gross Margin | 69.30% |
| Net Profit Margin | 11.92% |
| Debt/Equity Ratio | 0% |
How did SPSC perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/10 04:54 |
| End of Day Share Price | 2026/06/10 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
SPS Commerce, Inc. is covered by 19 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Joseph Vruwink | Baird |
| Jeffrey Houston | Barrington Research Associates, Inc. |
| Mark Schappel | Benchmark Company |