SPS Commerce downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Chris Quintero downgraded SPS Commerce (SPSC) to Equal Weight from Overweight with a price target of $100, down from $140. The firm believes the company’s near-term growth will be “constrained” as the macro environment is hurting its retail end market. SPS lacks positive catalysts to turn its growth around in the near-term, which will keep the stock range-bound, the analyst tells investors in a research note.