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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG)‘s stock had its “buy” rating restated by research analysts at Loop Capital in a research note issued on Thursday, Benzinga reports. They presently have a $96.00 price target on the technology company’s stock. Loop Capital’s price objective would indicate a potential upside of 19.19% from the company’s current price.

DSGX has been the subject of a number of other reports. Weiss Ratings upgraded The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 21st. Scotia raised 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 research note on Friday, September 11th. National Bank Financial increased their price target on The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Royal Bank Of Canada set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Friday, September 4th. Finally, Scotiabank raised their target price on 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. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.67.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX traded up $0.48 during trading hours on Thursday, hitting $80.55. The company’s stock had a trading volume of 368,911 shares, compared to its average volume of 618,373. The Descartes Systems Group has a 52-week low of $62.56 and a 52-week high of $98.35. The company has a market capitalization of $6.89 billion, a PE ratio of 37.65 and a beta of 0.65. The business’s 50-day moving average is $78.32 and its two-hundred day moving average is $73.88.

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

Hedge Funds Weigh In On The Descartes Systems Group

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in The Descartes Systems Group by 62.0% in 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 in the last quarter. Walleye Capital LLC boosted its position 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 grew its stake in The Descartes Systems Group by 140.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,100,755 shares of the technology company’s stock valued at $78,772,000 after buying an additional 643,071 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in The Descartes Systems Group by 10.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 490,898 shares of the technology company’s stock worth $35,129,000 after acquiring an additional 45,558 shares during the period. Finally, Peregrine Capital Management LLC bought a new position in The Descartes Systems Group in the 1st quarter worth $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.