SPS Commerce's stock plummeted 5.63% in Tuesday's intraday trading session, as multiple analysts lowered their price targets for the supply chain software company.
Northland Capital Markets cut its price target on SPS Commerce to $181 from $209, while Baird lowered its target to $175 from $188. The analysts maintained their ratings on the stock, with Needham keeping a "Buy" rating.
The downward revisions in price targets by analysts suggest concerns about SPS Commerce's growth prospects or valuations, leading to the significant decline in the company's share price during Tuesday's trading session.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments