The stock of SPS Commerce, Inc. (NASDAQ:SPSC) is now priced at $76.07 and the shares are 0.95 points up or 1.26% higher compared to its previous closing price of $75.12. The stock had 236932 contracts set over the past session. SPSC shares’ daily volume is compared to its average trading volume at 0 billion shares. However, it has a float of 34.79 million and although its performance was 3.13% over the week, it’s one to watch. Analysts have given the SPSC stock a yearly average price target of $69.29 per share. It means the stock’s downside potential is -8.91% with the SPSC share price recently placing at $73.63 to $75.8. However, some brokerage firms have priced the stock below the average, including one that has called $58.
The shorts are running away from the SPS Commerce, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the SPSC shares have declined. Short interest in the stock represents just 2.41% of its float, but the volume has dropped by -120521. The volume of shorted shares dropped to 836924 from 957445 shares over the last two weeks. The average intraday trading volume has been 276821 shares, which means that days to cover moved to roughly 3.02334.
In the last trading session, SPS Commerce, Inc. (NASDAQ:SPSC) raised by $2.31 over the week and gained $3.5 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $76.85. The stock recorded its established 52-week high on 06/23/20.
Since 03/19/20, the stock has traded to a low of $31.28 at 143.19%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.87. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, SPS Commerce, Inc.’s two-week RSI is 66.48. This suggests that the stock is neutral at the moment and that SPSC shares’ price movement remains stable. The stochastic readings are equally revealing at 85.57% meaning the SPSC share price is currently in oversold territory.
The technical chart shows that the SPSC stock will likely settle at between $76.81 and $77.55 per share. However, if the stock dips below $75.25, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $74.43.
Currently, the stock is trading in the green of MACD, with a reading of 0.4. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Needham though raised target price of SPSC stock from $70 to $80 but maintained Buy recommendation in their June 05 review. Robert W. Baird analysts see the stock as a Neutral with a target price of $67 in a flash note released to investors on February 19 initiating covering the stock. The Benchmark Company analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on February 14, placing it at $68 from $60.
The average rating for the SPSC equity is 2.3 and is currently gathering a bullish momentum. Of 10 analysts tracking SPS Commerce, Inc. polled by Reuters, 4 rated SPSC as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the SPSC stock price is 50.38X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 74.4 above the group’s average of 35. SPS Commerce, Inc. has its P/E ratio at 7.4, which means that the stock is currently trading at a discount relative to the 12.5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for SPS Commerce, Inc. (NASDAQ:SPSC) will decrease by about -99.9%, which will see them reach $74.34 million. The company’s full-year revenues are, however, expected to increase by about 8.15%, up from $279.12 million to $301.88 million. SPSC’s expected adjusted earnings should surge almost 3.33% to end up at $0.31 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 5.47% to record $1.35/share.