The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Average Rating of “Moderate Buy” from Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $103.1667.

A number of equities research analysts have commented on DSGX shares. Morgan Stanley decreased their price target on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Canadian Imperial Bank of Commerce increased their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Thursday, June 4th. Weiss Ratings cut The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 9th. Loop Capital reiterated a “buy” rating and issued a $96.00 price target on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Finally, Raymond James Financial reduced their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in shares of The Descartes Systems Group in the third quarter worth about $27,000. Danske Bank A S purchased a new position in shares of The Descartes Systems Group in the third quarter worth about $34,000. EverSource Wealth Advisors LLC raised its stake in shares of The Descartes Systems Group by 57.5% in the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of The Descartes Systems Group in the third quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after purchasing an additional 401 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $73.91 on Thursday. The stock has a 50-day moving average of $71.77 and a two-hundred day moving average of $76.10. The Descartes Systems Group has a one year low of $62.56 and a one year high of $109.00. The stock has a market cap of $6.35 billion, a PE ratio of 36.96 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Descartes Systems Group will post 2.37 EPS for the current fiscal year.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.