Needham lowered the firm’s price target on SPS Commerce (SPSC) to $110 from $160 but keeps a Buy rating on the shares. The company reported its first poor quarter as a public company as Q3 revenues were $3M below guidance due to a mis-calculation in its acquired Revenue Recovery business, driving shares 25% lower in the after-market, though the firm is defending the stock at peak pessimism and would be aggressive buyers of the weakness, the analyst tells investors in a research note.
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Read More on SPSC:
- SPS Commerce upgraded to Outperform from Market Perform at Northland
- SPSC Earnings: SPS Commerce Stock Slammed by Mixed Results, Weak Guidance
- SPS Commerce price target lowered to $104 from $145 at Baird
- SPS Commerce price target lowered to $80 from $125 at DA Davidson
- SPS Commerce price target lowered to $110 from $145 at Citi