DA Davidson raised the firm’s price target on SPS Commerce to $220 from $200 and keeps a Buy rating on the shares. The company’s Q4 earnings beat offered incremental positives to both growth and margin in the year ahead, the analyst tells investors in a research note. SPS’s network effects continue to sustain a wide competitive moat over peers, and should support growth of about 15% ahead of a more concerted penetration effort in Europe closer to 2025, the firm added.
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