Northland analyst Nehal Chokshi lowered the firm’s price target on SPS Commerce (SPSC) to $163 from $181 and keeps a Market Perform rating on the shares. Organic growth is still decelerating, though the rate of organic customer adds has likely bottomed, says the analyst, who is lowering the firm estimated long-term growth rate to 13% from 15% on a recalibrated lower rate of customer additions.
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Read More on SPSC:
- SPS Commerce price target raised to $159 from $154 at Baird
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