SPS Commerce price target lowered to $135 from $170 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on SPS Commerce (SPSC) to $135 from $170 and keeps an Overweight rating on the shares. There were few surprises at the company’s Analyst Day in Minneapolis given that SPS proactively provided medium-term financial targets during the Q2 earnings call, the analyst tells investors in a research note. SPS SPSC has likely entered a more mature growth phase, and this is a high-quality business with network effects that provide a competitive advantage, Cantor argues.