DA Davidson lowered the firm’s price target on SPS Commerce (SPSC) to $80 from $125 and keeps a Neutral rating on the shares. The firm cites the company’s Q3 revenue miss and 2025 guidance cut, along with below-consensus 2026 growth outlook, the analyst tells investors in a research note. The company added 450 new customers in Q3 but based on the firm’s conversations with management, it now expects negative sequential growth in the count of total customers in Q4 given delayed purchases and stable churn levels, the firm added.
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Read More on SPSC:
- SPS Commerce price target lowered to $110 from $145 at Citi
- SPS Commerce: Hold Rating Amid Mixed Q3 Results and Conservative Outlook
- SPS Commerce Stock: Buy Rating Amid Overreaction and Growth Potential
- SPS Commerce downgraded to Hold from Buy at Stifel
- SPS Commerce downgraded to Neutral from Overweight at Cantor Fitzgerald