UPDATE: Stifel Nicolaus Raises PT on SPS Commerce Following Management Conversations

In a report published Friday, Stifel Nicolaus analyst Tom Roderick reiterated a Buy rating on SPS Commerce (NASDAQ: SPSC), and raised the price target from $46.00 to $60.00.

In the report, Stifel Nicolaus noted, “This week we had the opportunity to spend a couple of days on the road with SPSC management. Based on our conversations, we come away increasingly confident in the company's ability to sustain momentum, including increased optimism surrounding the company's analytics products and emerging channel strategy.”

SPS Commerce closed on Thursday at $54.50.