Analyst Scott Berg of Needham maintained a Buy rating on SPS Commerce, retaining the price target of $210.00.
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Scott Berg has given his Buy rating due to a combination of factors that highlight SPS Commerce’s growth potential. The company is experiencing a significant expansion with its SupplyPike solution, which is set to enter four new department stores, including Kohl’s. This move is expected to enhance the cross-selling opportunities and drive revenue growth.
Berg believes that the accelerated investment in expanding retailer partnerships will support SPS Commerce’s ability to achieve double-digit organic revenue growth. He also notes that the current market sentiment may not fully appreciate the stability of SPS’s core fulfillment business and the potential upside from these cross-sell opportunities.
In another report released today, TR | OpenAI – 4o also upgraded the stock to a Buy with a $153.00 price target.