The Descartes Systems Group (NASDAQ:DSGX) Stock Rating Upgraded by Barclays

Barclays upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from an underweight rating to an equal weight rating in a research report sent to investors on Friday morning, MarketBeat reports. Barclays currently has $125.00 target price on the technology company’s stock, up from their previous target price of $88.00.

Several other research firms also recently issued reports on DSGX. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. BMO Capital Markets increased their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. Scotiabank lifted their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $109.25.

The Descartes Systems Group Stock Up 1.1 %

NASDAQ DSGX opened at $112.63 on Friday. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 76.10 and a beta of 0.97. The Descartes Systems Group has a twelve month low of $79.21 and a twelve month high of $117.24. The business’s fifty day moving average is $104.91 and its 200 day moving average is $100.11.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released 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 firm had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. On average, research analysts anticipate that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in 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 last quarter. Barclays PLC raised its holdings in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after acquiring an additional 270 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in The Descartes Systems Group in the 3rd quarter valued at about $1,558,000. XTX Topco Ltd bought a new stake in The Descartes Systems Group during the 3rd quarter worth approximately $456,000. Finally, DF Dent & Co. Inc. raised its stake in shares of The Descartes Systems Group by 27.9% in the third quarter. DF Dent & Co. Inc. now owns 279,675 shares of the technology company’s stock worth $28,795,000 after purchasing an additional 61,080 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

About The Descartes Systems Group

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.