Why SPS Commerce Stock Was a Winner on Wednesday
An analyst raised his price target on the company by more than 33%.
Overview
SPS Commerce (NASDAQ: SPSC) stock wasn't impeded on Hump Day at all. Thanks largely to a substantial price target raise from an analyst, investors flocked to the supply chain software developer's equity. SPS Commerce's stock finished the day more than 4% higher in value.
The prognosticator behind that move was Needham's Scott Berg, who lifted his fair value assessment on SPS by more than 33%. He now feels the stock is worth $100 per share, from his previous $75. He maintained his buy recommendation when making the change.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.