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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given a consensus recommendation of “Buy” by the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $114.20.

Several equities research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce decreased 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 note on Wednesday, October 29th. Zacks Research raised The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st. Finally, BMO Capital Markets decreased their price objective on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $62.82 on Tuesday. The company has a market capitalization of $5.40 billion, a P/E ratio of 35.49 and a beta of 0.75. The company’s 50-day moving average is $79.78 and its 200 day moving average is $88.97. The Descartes Systems Group has a fifty-two week low of $62.56 and a fifty-two week high of $117.35.

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 business had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. As a group, research analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Several large investors have recently modified their holdings of the business. Invesco Ltd. lifted its stake in shares of The Descartes Systems Group by 8.5% during the 4th quarter. Invesco Ltd. now owns 30,063 shares of the technology company’s stock valued at $2,635,000 after buying an additional 2,353 shares in the last quarter. Corient Private Wealth LLC purchased a new position in The Descartes Systems Group in the 4th quarter valued at approximately $257,000. Strive Financial Group LLC bought a new stake in The Descartes Systems Group during the 4th quarter valued at $1,372,000. State of Tennessee Department of Treasury purchased a new stake in shares of The Descartes Systems Group during the fourth quarter worth $184,000. Finally, Mackenzie Financial Corp lifted its position in shares of The Descartes Systems Group by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock worth $296,326,000 after acquiring an additional 56,069 shares in the last quarter. Hedge funds and other 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.