The Descartes Systems Group’s (DSGX) Buy Rating Reaffirmed at Loop Capital

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG)‘s stock had its “buy” rating reiterated by equities researchers at Loop Capital in a report released on Thursday, Benzinga reports. They presently have a $96.00 price target on the technology company’s stock. Loop Capital’s target price would suggest a potential upside of 18.09% from the stock’s current price.

A number of other brokerages also recently commented on DSGX. Royal Bank Of Canada set a $125.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Friday, September 4th. Scotia boosted their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday, September 11th. Weiss Ratings raised shares of The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 21st. Scotiabank upped their target price on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a report on Friday, September 11th. Finally, National Bank Financial upped their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $99.67.

The Descartes Systems Group Stock Up 1.5%

NASDAQ DSGX traded up $1.23 on Thursday, reaching $81.30. The stock had a trading volume of 383,667 shares, compared to its average volume of 618,454. The stock has a fifty day moving average price of $78.32 and a two-hundred day moving average price of $73.88. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 37.86 and a beta of 0.65. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $98.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $198.12 million during the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Sell-side analysts forecast that The Descartes Systems Group will post 2.37 earnings per share for the current fiscal year.

Institutional Trading of The Descartes Systems Group

A number of hedge funds have recently bought and sold shares of DSGX. Bank of America Corp DE raised its stake in The Descartes Systems Group by 62.0% during the first quarter. Bank of America Corp DE now owns 733,483 shares of the technology company’s stock worth $52,488,000 after purchasing an additional 280,713 shares during the period. Walleye Capital LLC raised its stake in The Descartes Systems Group by 1,011.9% during the first quarter. Walleye Capital LLC now owns 128,723 shares of the technology company’s stock worth $9,211,000 after purchasing an additional 117,146 shares during the period. The Manufacturers Life Insurance Company raised its stake in The Descartes Systems Group by 140.5% during the first quarter. The Manufacturers Life Insurance Company now owns 1,100,755 shares of the technology company’s stock worth $78,772,000 after purchasing an additional 643,071 shares during the period. Segall Bryant & Hamill LLC raised its stake in The Descartes Systems Group by 10.2% during the first quarter. Segall Bryant & Hamill LLC now owns 490,898 shares of the technology company’s stock worth $35,129,000 after purchasing an additional 45,558 shares during the period. Finally, Peregrine Capital Management LLC purchased a new position in The Descartes Systems Group during the first quarter worth approximately $8,671,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company’s products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.