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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $114.17.

A number of equities analysts have weighed in on DSGX shares. BMO Capital Markets upped their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. TD Securities lifted their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $88.00 to $125.00 in a report on Friday, November 15th.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $121.37 on Friday. The business’s fifty day moving average is $109.73 and its 200 day moving average is $102.10. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of 76.33 and a beta of 0.98. The Descartes Systems Group has a 52-week low of $79.21 and a 52-week high of $122.22.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.82%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. Equities analysts predict that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in The Descartes Systems Group by 3.1% in the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after acquiring an additional 40,807 shares in the last quarter. Synovus Financial Corp increased its stake in The Descartes Systems Group by 8.4% during the 3rd quarter. Synovus Financial Corp now owns 15,354 shares of the technology company’s stock valued at $1,581,000 after purchasing an additional 1,190 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in The Descartes Systems Group during the 3rd quarter valued at approximately $465,000. Barclays PLC lifted its stake in shares of The Descartes Systems Group by 2.8% during the third quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after buying an additional 270 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of The Descartes Systems Group by 10.7% during the third quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock worth $50,277,000 after buying an additional 46,523 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Company Profile

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.