The Descartes Systems Group (NASDAQ:DSGX) Shares Gap Up After Analyst Upgrade

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shares gapped up before the market opened on Thursday after Raymond James Financial upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $82.96, but opened at $88.82. Raymond James Financial now has a $118.00 price target on the stock. The Descartes Systems Group shares last traded at $91.1890, with a volume of 440,997 shares.

A number of other equities research analysts have also recently weighed in on DSGX. TD Securities assumed coverage on The Descartes Systems Group in a report on Friday, October 3rd. They set a “buy” rating and a $121.00 price target for the company. TD Cowen restated a “buy” rating and set a $121.00 target price on shares of The Descartes Systems Group in a report on Friday, October 3rd. Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. CIBC cut their price target on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, Morgan Stanley reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus target price of $117.55.

Hedge Funds Weigh In On The Descartes Systems Group

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

The Descartes Systems Group Stock Down 2.2%

The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 52.40 and a beta of 0.74. The company’s fifty day moving average is $89.24 and its two-hundred day moving average is $98.61.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The firm had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.76%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

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.