SPS Commerce (SPSC) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Adjusted EPS
- $1.27
- Estimate
- $1.08
- Surprise
- +17.3%
- Revenue (period 2026-06-30)
- $197.8M
- Score at report (before → after)
- 6.1 → 6.2/10
Revenue source: xbrl.
How the report landed
SPS Commerce (SPSC) beat the $1.08 estimate with adjusted EPS of $1.27 — a large 17.3% upside surprise. TrendMatrix's engine moved from Hold (6.1/10) to Buy (Wait) at 6.2/10 after the report.
Where TrendMatrix's rating stands now
TrendMatrix currently rates SPSC Sell at 6.1/10.
4 of the last 4 quarters beat the estimate; this quarter's +17.3% surprise compares with a +13.7% four-quarter average. Next scheduled report: 2026-10-29.
What supports the rating
- Strong earnings beat streak (4/4)
- Positive insider activity
What argues against it
- Concentration risk — Product: cloud-based supply chain management products
- Analyst target reached - limited upside remaining
- Sector modifier (Technology): -0.8
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $82.69
- Price target
- $87.65
- Stop
- $76.90
- Upside to target
- +6.0%
The stock trades at 39.3× trailing but 15.3× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-09-24 — shown for context, not personalized investment advice.
SPSC at TrendMatrix's latest read
Technology names get repriced on forward expectations more than trailing prints — a quarter here is read through next-year growth and multiple, not the EPS line alone.
- Industry
- Software - Application
- Market cap
- $2.93B
- P/E (fwd)
- 15.3
- P/E (ttm)
- 39.3
- 52-week range
- $49.04–$114.87
- Off 52-week high
- 28.0%
- RSI (14)
- 46
- Volume vs avg
- 0.63×
- Score today
- 6.1/10