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

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Free Report) (TSE:DSG) has been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $104.83.

DSGX has been the topic of a number of research analyst reports. Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. BMO Capital Markets lifted their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of The Descartes Systems Group in a research note on Thursday, September 5th. National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Barclays increased their price objective on The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research report on Thursday, September 5th.

Check Out Our Latest Stock Analysis on DSGX

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zeno Equity Partners LLP bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at $11,108,000. Goldman Sachs Group Inc. lifted its holdings in The Descartes Systems Group by 24.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 509,683 shares of the technology company’s stock valued at $42,844,000 after purchasing an additional 99,268 shares during the last quarter. Vanguard Group Inc. boosted its position in The Descartes Systems Group by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,096,740 shares of the technology company’s stock valued at $260,312,000 after buying an additional 31,078 shares in the last quarter. Accent Capital Management LLC bought a new stake in The Descartes Systems Group during the fourth quarter worth about $32,000. Finally, Quadrature Capital Ltd increased its holdings in shares of The Descartes Systems Group by 13.6% during the fourth quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock worth $13,131,000 after buying an additional 18,700 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

DSGX opened at $105.70 on Friday. The company has a market cap of $9.03 billion, a PE ratio of 71.42 and a beta of 0.97. The stock has a 50-day moving average of $99.72 and a 200-day moving average of $97.01. The Descartes Systems Group has a 52-week low of $69.59 and a 52-week high of $106.22.

The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, research analysts predict that The Descartes Systems Group will post 1.69 earnings per share for the current year.

The Descartes Systems Group Company Profile

(Get Free Report

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.

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Analyst Recommendations for The Descartes Systems Group (NASDAQ:DSGX)

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