Raymond James Financial Upgrades The Descartes Systems Group (NASDAQ:DSGX) to Outperform

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by investment analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, Marketbeat reports. The firm presently has a $118.00 target price on the technology company’s stock. Raymond James Financial’s price target indicates a potential upside of 27.22% from the company’s current price.

A number of other research firms also recently weighed in on DSGX. TD Cowen restated a “buy” rating and issued a $121.00 target price on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday. Morgan Stanley decreased their target price on shares of The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 20th. Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.55.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $92.75 on Thursday. The firm has a market capitalization of $7.98 billion, a PE ratio of 52.40 and a beta of 0.74. The Descartes Systems Group has a 52-week low of $78.88 and a 52-week high of $124.31. The firm has a fifty day moving average of $89.24 and a 200 day moving average of $98.61.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.76% and a net margin of 22.10%.The business had revenue of $186.78 million for the quarter, compared to the consensus estimate of $184.24 million. During the same quarter last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Ritholtz Wealth Management boosted its holdings in shares of The Descartes Systems Group by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock valued at $627,000 after acquiring an additional 114 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of The Descartes Systems Group by 23.2% during the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after purchasing an additional 117 shares during the last quarter. Vista Finance LLC lifted its position in The Descartes Systems Group by 4.0% during the second quarter. Vista Finance LLC now owns 3,245 shares of the technology company’s stock valued at $330,000 after purchasing an additional 126 shares during the period. AXA S.A. lifted its position in The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after purchasing an additional 130 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in The Descartes Systems Group by 24.8% in the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.