SPSC - Why SPS Commerce Stock Is Soaring Today
2024-02-09 14:41:52 ET
SPS Commerce (NASDAQ: SPSC) stock is making huge gains in Friday's trading. The supply chain software company's shares were up 16.5% as of 2 p.m. ET, according to data from S&P Global Market Intelligence .
SPS Commerce released its fourth-quarter results after the market closed yesterday. Sales and earnings for the period beat Wall Street estimates. The company recorded non-GAAP (adjusted) earnings per share of $0.75 on revenue of $145 million, topping analysts' average estimate for per-share earnings of $0.70 on sales of $142.79 million.
SPS' revenue increased 18.9% year over year in the fourth quarter, and recurring revenue jumped 19% compared to the prior-year period. Meanwhile, adjusted earnings per share were up approximately 19%.
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Why SPS Commerce Stock Is Soaring Today