SPS Commerce Shares Fall After Stifel Nicolaus, Cantor Fitzgerald Downgrades

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SPS Commerce's (SPSC) shares were down more than 23% in recent Friday trading after Stifel Nicolaus and Cantor Fitzgerald lowered their price targets following the technology company's Q3 results.

Cantor Fitzgerald cut its rating on SPS Commerce to neutral from overweight and lowered its price target to $80 From $135.

Separately, Stifel Nicolaus downgraded the stock to hold from buy and trimmed its target price to $80 from $150.

The company on late Thursday reported Q3 non-GAAP earnings of $1.13 per diluted share, up from $0.92 in the prior-year period, topping the $1 consensus estimate from FactSet. Quarterly revenue rose to $189.9 million from $163.7 million a year ago but came in below analysts' forecast of $192.7 million.

Price: 79.34, Change: -24.55, Percent Change: -23.63

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