SPS Commerce Is Resilient Amid Economic Slowdown: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Scott Berg reiterated a Buy rating on SPS Commerce, Inc. (NASDAQ:SPSC) and raised the price target to $205 from $160. Berg is optimistic about the company's ability to meet or exceed its 15%+ annual revenue growth targets, even amid a slower macroeconomic environment. The analyst also believes that SPS could be more acquisitive for products, providing cross-sell opportunities and boosting functionality in a customer's value chain.
June 15, 2023 | 5:35 pm
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Needham analyst Scott Berg reiterated a Buy rating on SPS Commerce and raised the price target to $205 from $160. The company is expected to meet or exceed its 15%+ annual revenue growth targets and could be more acquisitive for products.
The analyst's positive outlook on SPS Commerce's ability to meet or exceed its revenue growth targets and potential for product acquisitions, along with the raised price target, are likely to have a positive short-term impact on the stock price. The Buy rating and increased price target signal confidence in the company's growth prospects, which could attract more investors and drive the stock price up.
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