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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $103.1667.

DSGX has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce upped their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th. Loop Capital restated a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. Morgan Stanley decreased their price objective on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Zacks Research lowered shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Barclays decreased their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th.

Hedge Funds Weigh In On The Descartes Systems Group

Several large investors have recently made changes to their positions in DSGX. Quarry LP acquired a new position in shares of The Descartes Systems Group in the 3rd quarter worth approximately $27,000. Danske Bank A S acquired a new position in shares of The Descartes Systems Group in the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC lifted its holdings in shares of The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of The Descartes Systems Group in the 3rd quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings 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 acquiring an additional 401 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $70.53 on Monday. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 35.27 and a beta of 0.64. The company’s 50-day moving average is $71.88 and its two-hundred day moving average is $74.80. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The Descartes Systems Group’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. As a group, equities analysts anticipate that The Descartes Systems Group will post 2.37 earnings per share for the current fiscal year.

About The Descartes Systems Group

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.