SPSC
Strong BuyPremium GrowerAI neutralSPS Commerce, Inc. · Technology · United States · $3.3B cap · $44.7M/day traded
$92.63 +0.8% · close 23 Oct · scored 24 Oct
Premium Grower: Strong business with the market behind it, priced at a premium.
Report expected 29 Oct: the next-year EPS estimate has risen 2.1% over the last 14 weeks.
As of 24 Oct 2026, MoatMap's StockRank for SPS Commerce, Inc. (SPSC) is 92/100, ranked against 24,000+ stocks in 35 markets (Quality 78, Value 48, Momentum 69, each scored against its sector).
Does StockRank work? Each month we publish how every decile did, whichever way it went. See the record →
SPS Commerce runs a cloud network that connects retailers with their suppliers for orders, invoices and shipping data. Each new retailer on the network pulls in more suppliers, so switching costs and network effects are real, and the business is asset-light and cash-generative. The company is buying back stock, repurchasing about 2.9% of shares in 90 days. Against that, revenue growth has slowed from historic levels, and the recent divestiture and new AI analytics push show the company repositioning. Supply-chain disruption helps demand for visibility tools, but there is no clear sign yet that growth is re-accelerating.
ABOUT SPS COMMERCE, INC.
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SPS Commerce, Inc. provides cloud-based supply chain management solutions, primarily focused on retail-focused Electronic Data Interchange (EDI) and analytics, connecting retailers, suppliers, and logistics providers. The company operates the largest retail-focused EDI network, creating strong network effects, high switching costs, and a dominant market position by automating and optimizing trading partner relationships.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 450.9M | 536.9M | 637.8M | 751.5M | 18.6% | 772.5M | 790.7M | 840.2M | 5.7% |
| EPS | 1.53 | 1.80 | 2.07 | 2.46 | 17.2% | 2.07 | 2.82 | 3.07 | 11.7% |
| Shares | 36.2M | 36.8M | 37.7M | 37.5M | +3.8% | 36.0M | — | — | — |
| Debt | 17.3M | 14.0M | 12.5M | 7.2M | -25.3% | 6.3M | — | — | — |
| Equity | 537.1M | 667.5M | 854.7M | 973.9M | 21.9% | — | — | — | — |
| Op CF | 100.1M | 132.3M | 157.4M | 178.8M | 21.3% | 228.1M | — | — | — |
| Inv CF | -112.8M | -92.6M | -110.5M | -169.2M | — | — | — | — | — |
| Fin CF | -31.6M | 16.0M | -23.0M | -100.8M | — | — | — | — | — |
89% above its 52-week low and back above a rising 50-day average.
Swung more than 57% of stocks we rank over the past year (46% a year).
How this is worked out
StockRank judges the business. The price check reads only the chart: it is the price side of the Momentum score, in words.
The rules: Still falling is a new 52-week low in the last two weeks, at least 25% below the high. Finding a floor is no new low since. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average and within 15% of the high.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn like this one cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: day-to-day price moves over the past year, as a yearly figure, ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Technology, ranked by industry match, size, and score similarity. Cross-listings of SPSC are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| SPSC | SPS Commerce, Inc.(you) | $3.3B | 92 | Strong Buy |
| ALRM | Alarm.com Holdings, Inc. | $3.1B | 88 | Strong Buy |
| QTWO | Q2 Holdings, Inc. | $4.3B | 88 | Strong Buy |
| FRSH | Freshworks Inc. | $4.0B | 87 | Strong Buy |
| DAVE | Dave Inc. | $4.5B | 89 | Strong Buy |
| BLKB | Blackbaud, Inc. | $2.5B | 88 | Strong Buy |
| NATL | NCR Atleos Corporation | $3.5B | 82 | Strong Buy |
| PLUS | ePlus inc. | $2.5B | 85 | Strong Buy |
| AGYS | Agilysys, Inc. | $3.4B | 76 | Buy |
| YOU | Clear Secure, Inc. | $4.7B | 83 | Strong Buy |
Peer medians: ROE 4.7% · P/E 32.6x · Gross margin 52.1%
Company Deep Dive
Business segments breakdown, earnings transcript analysis, management credibility scoring, competitive landscape, and scenario modelling.