The Descartes Systems Group (NASDAQ:DSGX) Raised to Overweight at Barclays

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Monday, Marketbeat Ratings reports. The firm currently has a $105.00 target price on the technology company’s stock, down from their previous target price of $106.00. Barclays‘s target price suggests a potential upside of 19.41% from the company’s current price.

Several other research firms have also recently weighed in on DSGX. Scotiabank cut their price target on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th. TD Cowen reaffirmed a “buy” rating and set a $121.00 price target on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Morgan Stanley lifted their price target on The Descartes Systems Group from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 9th. TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average target price of $116.20.

The Descartes Systems Group Trading Down 0.8%

NASDAQ DSGX opened at $87.93 on Monday. The business has a fifty day simple moving average of $86.25 and a 200 day simple moving average of $95.18. The Descartes Systems Group has a 12 month low of $78.88 and a 12 month high of $124.31. The firm has a market capitalization of $7.56 billion, a P/E ratio of 49.68 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The firm had revenue of $186.78 million for the quarter, compared to the consensus estimate of $184.24 million. During the same period in the previous year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, sell-side analysts predict that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $27,000. Mather Group LLC. bought a new position in The Descartes Systems Group in the 3rd quarter worth approximately $28,000. Danske Bank A S purchased a new position in The Descartes Systems Group in the 3rd quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC purchased a new position in The Descartes Systems Group in the 3rd quarter valued at approximately $40,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after acquiring an additional 401 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.