The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Consensus Recommendation of “Buy” by Analysts

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received a consensus recommendation of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $116.20.

DSGX has been the topic of several research reports. Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a research report on Thursday, December 4th. Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $106.00 to $105.00 in a report on Monday, January 12th. TD Cowen reiterated a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a research note on Friday, October 3rd. CIBC lowered their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, Scotiabank dropped their price objective on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 4th.

Institutional Trading of The Descartes Systems Group

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

The Descartes Systems Group Price Performance

DSGX stock opened at $75.58 on Friday. The Descartes Systems Group has a 1 year low of $74.72 and a 1 year high of $124.31. The firm has a 50-day moving average of $86.48 and a 200 day moving average of $93.69. The company has a market cap of $6.50 billion, a P/E ratio of 42.70 and a beta of 0.74.

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

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.