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SPS Commerce

SPS Commerce Inc is a provider of cloud-based supply chain management services for retailers, grocers, distributors, suppliers, and logistics firms to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience. Its solutions are delivered through the SPS Commerce platform and provide integrations and retail performance analytics to its customers. Its products are; Fulfillment, Analytics, and Other products like Assortment and Community also it provides one-time services such as professional services and testing and certification. The group derives revenue from recurring monthly fees and set-up fees.

SPS Commerce Inc

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Shares of software companies are trading higher in sympathy with overall market strength after Donald Trump was elected president of the United States.

News

Guidance

CORRECTION: On Thursday October 24, 2024, SPS Commerce Raised FY2024 Adj EPS Guidance From $3.36-$3.39 To $3.41-$3.42 Vs $3.36 Est

Baird analyst Joe Vruwink maintains SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) with a Neutral and raises the price target from $186 to $188.

Price Target

Analyst Ratings

Baird Maintains Neutral on SPS Commerce, Raises Price Target to $188

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) underwent analysis by 4 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $229.75, along with a high estimate of $250.00 and a low estimate of $209.00. Observing a 1.55% increase, the current average has risen from the previous average price target of $226.25. 
<img src="https://www.benzinga.com/files/images/story/2024/1729875666_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
A comprehensive examination of how financial experts perceive SPS Commerce is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Parker Lane</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$250.00</td>
<td>$240.00</td>
</tr>
<tr>
<td>Scott Berg</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$230.00</td>
<td>$230.00</td>
</tr>
<tr>
<td>Scott Berg</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$230.00</td>
<td>$230.00</td>
</tr>
<tr>
<td>Nehal Chokshi</td>
<td>Northland Capital Markets</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$209.00</td>
<td>$205.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to SPS Commerce. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of SPS Commerce compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for SPS Commerce's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of SPS Commerce's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/SPSC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on SPS Commerce analyst ratings.</a>
<h2>Discovering SPS Commerce: A Closer Look</h2>
SPS Commerce Inc is a provider of cloud-based supply chain management services for retailers, grocers, distributors, suppliers, and logistics firms to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience. Its solutions are delivered through the SPS Commerce platform and provide integrations and retail performance analytics to its customers. Its products are; Fulfillment, Analytics, and Other products like Assortment and Community also it provides one-time services such as professional services and testing and certification. The group derives revenue from recurring monthly fees and set-up fees.
<h3>SPS Commerce: Financial Performance Dissected</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining SPS Commerce's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 17.77% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Information Technology sector.
Net Margin: SPS Commerce's net margin is impressive, surpassing industry averages. With a net margin of 11.74%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.6%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): SPS Commerce's ROA excels beyond industry benchmarks, reaching 2.13%. This signifies efficient management of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.02.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Ratings For SPS Commerce

Stifel analyst Parker Lane maintains SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) with a Buy and raises the price target from $240 to $250.

Stifel Maintains Buy on SPS Commerce, Raises Price Target to $250

Needham analyst Scott Berg reiterates SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) with a Buy and maintains $230 price target.

Reiteration

Needham Reiterates Buy on SPS Commerce, Maintains $230 Price Target

<h3>Gainers</h3>
<ul>
<li>Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) stock moved upwards by 7.8% to $71.5 during Thursday's after-market session. The market value of their outstanding shares is at $24.5 billion. The company's, Q1 earnings came out today. </li>
<li>Glimpse Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRAR#NASDAQ">VRAR</a>) shares rose 5.0% to $0.73. The market value of their outstanding shares is at $13.3 million. </li>
<li>WM Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAPS#NASDAQ">MAPS</a>) stock rose 4.99% to $0.89. The company's market cap stands at $86.0 million. </li>
<li>NiSun Intl Enterprise Dev (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NISN#NASDAQ">NISN</a>) stock rose 4.96% to $9.52. The company's market cap stands at $37.6 million. </li>
<li>Wetouch Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WETH#NASDAQ">WETH</a>) shares increased by 4.37% to $1.91. The market value of their outstanding shares is at $22.7 million. </li>
<li>Signing Day Sports (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SGN#AMEX">SGN</a>) stock increased by 3.25% to $0.23. The market value of their outstanding shares is at $4.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Alpha Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGL#NASDAQ">ATGL</a>) shares decreased by 6.4% to $9.03 during Thursday's after-market session. The market value of their outstanding shares is at $148.6 million. </li>
<li>Syntec Optics Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTX#NASDAQ">OPTX</a>) shares decreased by 5.15% to $1.66. The company's market cap stands at $60.8 million. </li>
<li>SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) shares fell 5.0% to $181.44. The market value of their outstanding shares is at $6.8 billion. As per the press release, Q3 earnings came out today. </li>
<li>Smith Micro Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMSI#NASDAQ">SMSI</a>) shares decreased by 4.18% to $0.8. The market value of their outstanding shares is at $14.2 million. </li>
<li>Socket Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCKT#NASDAQ">SCKT</a>) stock decreased by 4.04% to $1.19. The market value of their outstanding shares is at $9.0 million. As per the news, the Q3 earnings report came out today. </li>
<li>MaxLinear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MXL#NASDAQ">MXL</a>) shares decreased by 3.9% to $14.5. The market value of their outstanding shares is at $1.2 billion. As per the news, the Q3 earnings report came out yesterday. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

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12 Information Technology Stocks Moving In Thursday's After-Market Session

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) narrows FY2024 GAAP EPS guidance from $2.03-2.05 to $2.03-2.04..

SPS Commerce Narrows FY2024 GAAP EPS Guidance from $2.03-2.05 to $2.03-2.04.

SPS Commerce Raises FY2024 Adj EPS Guidance From $3.36-$3.39 To $3.41-$3.42 Vs $3.36 Est; Raises FY2024 Sales Guidance From $624.20M-$626.00M To $635.40M-$636.40M vs $631.31M Est.

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) is looking for Q4 GAAP EPS of $0.46-0.47..

SPS Commerce Sees Q4 GAAP EPS $0.46-0.47.

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) is looking for Q4 Adj EPS of $0.83-0.84 vs $0.88 analyst estimate. sees sales of $168.500 million-169.500 million vs $167.57 million estimate.

SPS Commerce Sees Q4 Adj EPS $0.83-0.84 vs $0.88 Est; Sees Sales $168.500M-169.500M vs $167.57M Est.

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) reported quarterly earnings of $0.92 per share which beat the analyst consensus estimate of $0.83 by 10.84 percent. This is a 22.67 percent increase over earnings of $0.75 per share from the same period last year. The company reported quarterly sales of $163.686 million which beat the analyst consensus estimate of $160.292 million by 2.12 percent. This is a 20.66 percent increase over sales of $135.661 million the same period last year.

Earnings

Earnings Beats

SPS Commerce Q3 2024 Adj. EPS $0.92 Beats $0.83 Estimate, Sales $163.686M Beat $160.292M Estimate

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-24. Here's what investors need to know before the announcement.
Analysts estimate that SPS Commerce will report an earnings per share (EPS) of $0.83. 
Investors in SPS Commerce are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Past Earnings Performance</h3>
In the previous earnings release, the company beat EPS by $0.03, leading to a 1.64% increase in the share price the following trading session.
Here's a look at SPS Commerce's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.77</td>
<td>0.73</td>
<td>0.69</td>
<td>0.67</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.80</td>
<td>0.86</td>
<td>0.75</td>
<td>0.75</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.0%</td>
<td>6.0%</td>
<td>15.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729713756_0.png" alt="eps graph" />
<h3>SPS Commerce Share Price Analysis</h3>
Shares of SPS Commerce were trading at $191.43 as of October 22. Over the last 52-week period, shares are up 22.85%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analyst Insights on SPS Commerce</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on SPS Commerce.
The consensus rating for SPS Commerce is Buy, derived from 7 analyst ratings. An average one-year price target of $221.43 implies a potential 15.67% upside.
<h3>Analyzing Ratings Among Peers</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of AppFolio, Confluent and CCC Intelligent Solutions, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>AppFolio is maintaining an Outperform status according to analysts, with an average 1-year price target of $300.0, indicating a potential 56.72% upside.</li>
<li>Confluent received a Buy consensus from analysts, with an average 1-year price target of $29.87, implying a potential 84.4% downside.</li>
<li>CCC Intelligent Solutions received a Buy consensus from analysts, with an average 1-year price target of $14.0, implying a potential 92.69% downside.</li>
</ul>
<h3>Key Findings: Peer Analysis Summary</h3>
The peer analysis summary presents essential metrics for AppFolio, Confluent and CCC Intelligent Solutions, unveiling their respective standings within the industry and providing valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPS Commerce</td>
<td>Buy</td>
<td>17.77%</td>
<td>$101.58M</td>
<td>2.60%</td>
</tr>
<tr>
<td>AppFolio</td>
<td>Outperform</td>
<td>34.20%</td>
<td>$127.77M</td>
<td>8.35%</td>
</tr>
<tr>
<td>Confluent</td>
<td>Buy</td>
<td>24.14%</td>
<td>$170.00M</td>
<td>-10.46%</td>
</tr>
<tr>
<td>CCC Intelligent Solutions</td>
<td>Buy</td>
<td>9.88%</td>
<td>$177.30M</td>
<td>1.10%</td>
</tr>
</tbody>
</table>

Key Takeaway:
SPS Commerce ranks at the top for Revenue Growth among its peers. It is in the middle for Gross Profit. SPS Commerce is at the bottom for Return on Equity.
<h3>Delving into SPS Commerce's Background</h3>
SPS Commerce Inc is a provider of cloud-based supply chain management services for retailers, grocers, distributors, suppliers, and logistics firms to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience. Its solutions are delivered through the SPS Commerce platform and provide integrations and retail performance analytics to its customers. Its products are; Fulfillment, Analytics, and Other products like Assortment and Community also it provides one-time services such as professional services and testing and certification. The group derives revenue from recurring monthly fees and set-up fees.
<h3>Unraveling the Financial Story of SPS Commerce</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: SPS Commerce's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 17.77%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: SPS Commerce's net margin is impressive, surpassing industry averages. With a net margin of 11.74%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): SPS Commerce's ROE excels beyond industry benchmarks, reaching 2.6%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.13%, the company showcases effective utilization of assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.02.
<a href="https://www.benzinga.com/quote/SPSC/earnings">To track all earnings releases for SPS Commerce visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: SPS Commerce's Earnings

SPS Commerce's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NYSE">SPSC</a>) short percent of float has fallen 13.57% since its last report. The company recently reported that it has 606 thousand shares sold short, which is 2.23% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.6 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>SPS Commerce Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729179917_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for SPS Commerce has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing SPS Commerce's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, SPS Commerce's peer group average for short interest as a percentage of float is 8.16%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into SPS Commerce's Recent Short Interest

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) has outperformed the market over the past 5 years by 17.96% on an annualized basis producing an average annual return of 32.05%. Currently, SPS Commerce has a market capitalization of $7.11 billion. 
Buying $1000 In SPSC: If an investor had bought $1000 of SPSC stock 5 years ago, it would be worth $4,004.97 today based on a price of $189.69 for SPSC at the time of writing.
<h3>SPS Commerce's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728406834_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 5 Years Ago Would Be Worth $4,000 Today

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) has outperformed the market over the past 15 years by 13.26% on an annualized basis producing an average annual return of 25.11%. Currently, SPS Commerce has a market capitalization of $7.31 billion. 
Buying $1000 In SPSC: If an investor had bought $1000 of SPSC stock 15 years ago, it would be worth $28,791.18 today based on a price of $195.05 for SPSC at the time of writing.
<h3>SPS Commerce's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727110818_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In SPS Commerce 15 Years Ago Would Be Worth Today

In a recent exclusive interview with Benzinga, Paul Eitelman, chief investment strategist for North America at Russell Investments, provided insights into the sectors of small-cap stocks that stand out <a href="https://www.benzinga.com/trading-ideas/small-cap-analysis">amidst economic uncertainty</a>.
While small-caps as a whole face some macroeconomic risks, Eitelman highlights several specific sectors that could offer substantial opportunities.
<h1 class="wp-block-heading">Where Small-Cap Managers Are Finding Opportunities</h1>
Eitelman notes that &#8220;dedicated small-cap managers are finding opportunities to tilt their portfolio strategies toward banks, technology and select highly indebted companies that are likely to benefit from lower interest rates going forward.&#8221; These sectors are positioned to thrive, especially as interest rates begin to decline.
Technology continues to dominate market discussions, and small-cap tech companies could be key beneficiaries of economic shifts, particularly those aligned with innovative growth areas like AI and data services.
The Russell 2000 index is one of the more popular indices tracking small cap U.S. equity. ETFs that track this index include the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), the Vanguard Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTWO#NYSE">VTWO</a>) and the Avantis US Small Cap Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVSC#NYSE">AVSC</a>). The Invesco S&amp;P SmallCap Information Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSCT#NYSE">PSCT</a>) is a lesser-known but technology-focused ETF tracking small cap companies. The top 3 holdings of this ETF are Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>), SPS Commerce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) and Badger Meter Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMI#NYSE">BMI</a>).
Read Also: <a href="https://www.benzinga.com/news/24/08/40423157/small-cap-ai-stocks-on-the-rise-3-hidden-gems-you-shouldnt-miss">Small-Cap AI Stocks On The Rise: 3 Hidden Gems You Shouldn&#8217;t Miss</a>
<h1 class="wp-block-heading">Stock Selection: Primary Driver Of Risk, Return</h1>
However, Eitelman cautions that given the high macroeconomic uncertainty, broad sector bets are risky. He recommends a more refined approach: "Our preference into high macro uncertainty is to target only modest sector tilts and let stock selection shine as the primary driver of risk and return."
This focus on stock selection over aggressive sector rotation makes sense in an environment where not all companies are equally positioned to navigate fluctuating interest rates or economic slowdowns. 
Banks, for example, are likely to benefit from a soft landing scenario, while indebted companies could see relief as rates fall. Tech remains a favorite sector due to its long-term growth prospects, even amid near-term uncertainty.
Overall, Eitelman's strategy emphasizes precision and caution, advising investors to prioritize stock-picking and avoid broad over-exposure in the small-cap space.
Read Next: 
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Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders.
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SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) has outperformed the market over the past 10 years by 10.48% on an annualized basis producing an average annual return of 21.11%. Currently, SPS Commerce has a market capitalization of $7.07 billion. 
Buying $100 In SPSC: If an investor had bought $100 of SPSC stock 10 years ago, it would be worth $684.82 today based on a price of $188.60 for SPSC at the time of writing.
<h3>SPS Commerce's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725571816_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 10 Years Ago Would Be Worth $700 Today

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) has outperformed the market over the past 10 years by 10.55% on an annualized basis producing an average annual return of 21.31%. Currently, SPS Commerce has a market capitalization of $7.37 billion. 
Buying $1000 In SPSC: If an investor had bought $1000 of SPSC stock 10 years ago, it would be worth $7,003.43 today based on a price of $196.50 for SPSC at the time of writing.
<h3>SPS Commerce's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724081414_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In SPS Commerce 10 Years Ago Would Be Worth This Much Today

Disclosed in a recent SEC filing on August 13, Wehrwein, Director at SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>), made a noteworthy transaction involving the exercise of company stock options.
What Happened: In an insider options sale disclosed in a Form 4 filing on Tuesday with the <a href="https://www.sec.gov/Archives/edgar/data/0001092699/000143774924026426//Archives/edgar/data/1092699/000143774924026426/0001437749-24-026426-index.htm">U.S. Securities and Exchange Commission</a>, Wehrwein, Director at SPS Commerce, exercised stock options for 2,000 shares of SPSC. The transaction value amounted to $205,740.
Currently, SPS Commerce shares are trading down 0.0%, priced at $196.27 during Wednesday's morning. This values Wehrwein's 2,000 shares at $205,740.
<h3>Unveiling the Story Behind SPS Commerce</h3>
SPS Commerce Inc is a provider of cloud-based supply chain management services for retailers, grocers, distributors, suppliers, and logistics firms to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience. Its solutions are delivered through the SPS Commerce platform and provide integrations and retail performance analytics to its customers. Its products are; Fulfillment, Analytics, and Other products like Assortment and Community also it provides one-time services such as professional services and testing and certification. The group derives revenue from recurring monthly fees and set-up fees.
<h3>SPS Commerce: Delving into Financials</h3>
Revenue Growth: Over the 3 months period, SPS Commerce showcased positive performance, achieving a revenue growth rate of 17.77% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Holistic Profitability Examination:
<ul>
<li>
Gross Margin: The company shows a low gross margin of 66.13%, suggesting potential challenges in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): SPS Commerce's EPS is notably higher than the industry average. The company achieved a positive bottom-line trend with a current EPS of 0.49.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.02.
Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 102.22, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 12.66 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio 59.8 is above the industry average, suggesting that the market values the company more highly for each unit of EBITDA. This could be attributed to factors such as strong growth prospects or superior operational efficiency.
</li>
</ul>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
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<h3>Delving Into the Significance of Insider Transactions</h3>
Considering insider transactions is valuable, but it's crucial to evaluate them in conjunction with other investment factors.
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Cracking Transaction Codes</h3>
Taking a closer look at transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often prioritize those unfolding in the open market, meticulously cataloged in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C denotes the conversion of an option, and transaction code A signifies a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001092699">Check Out The Full List Of SPS Commerce's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Engaging In Options Activity, Sven Wehrwein Exercises Options Valued At $205K In SPS Commerce

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SPS Commerce reports Q3 EPS 92c, consensus 83c

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Companies in the Technology sector have received a lot of coverage today as analysts weigh in on SPS Commerce (SPSC – Research Report) and Knowles ...

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In a report released today, George Kurosawa from Citi maintained a Buy rating on SPS Commerce (SPSC – Research Report). The company's shares closed...

Citi Sticks to Its Buy Rating for SPS Commerce (SPSC)

D.A. Davidson analyst Will Jellison maintained a Buy rating on SPS Commerce (SPSC – Research Report) today. The company's shares closed yesterday a...

D.A. Davidson Sticks to Its Buy Rating for SPS Commerce (SPSC)

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SPS Commerce price target raised to $188 from $186 at Baird

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