The Descartes Systems Group (NASDAQ:DSGX) Raised to “Buy” at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of The Descartes Systems Group (NASDAQ:DSGX – Free Report) (TSE:DSG) from a hold rating to a buy rating in a research report report published on Wednesday.

A number of other research analysts have also commented on DSGX. Wolfe Research raised The Descartes Systems Group from a peer perform rating to an outperform rating and set a $95.00 price target on the stock in a report on Wednesday, January 10th. Stephens lifted their target price on The Descartes Systems Group from $105.00 to $107.00 and gave the stock an overweight rating in a report on Thursday, March 7th. CIBC lifted their target price on The Descartes Systems Group from $85.00 to $95.00 and gave the stock a neutral rating in a report on Thursday, March 7th. Raymond James lifted their target price on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a market perform rating in a report on Thursday, March 7th. Finally, BMO Capital Markets lifted their target price on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a market perform rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, The Descartes Systems Group has a consensus rating of Moderate Buy and a consensus price target of $97.78.

Check Out Our Latest Stock Report on The Descartes Systems Group

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $88.71 on Wednesday. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 66.20 and a beta of 0.94. The Descartes Systems Group has a one year low of $69.59 and a one year high of $94.54. The stock’s fifty day moving average is $89.57 and its 200-day moving average is $83.26.

The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. Analysts forecast that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new stake in The Descartes Systems Group during the 4th quarter worth about $27,000. Captrust Financial Advisors boosted its position in The Descartes Systems Group by 270.8% during the 2nd quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock worth $28,000 after acquiring an additional 325 shares during the period. Fred Alger Management LLC acquired a new stake in The Descartes Systems Group during the 3rd quarter worth about $30,000. Accent Capital Management LLC acquired a new stake in The Descartes Systems Group during the 4th quarter worth about $32,000. Finally, Operose Advisors LLC acquired a new stake in The Descartes Systems Group during the 3rd quarter worth about $35,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

About The Descartes Systems Group

(Get Free Report)

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.

Further Reading