The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Average Recommendation of “Moderate Buy” from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $105.4545.

Several research analysts recently weighed in on DSGX shares. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their price target for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. Canaccord Genuity Group dropped their price target on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Weiss Ratings lowered The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. Zacks Research cut shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Morgan Stanley lowered their price target 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.

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently modified their holdings of DSGX. Norges Bank purchased a new position in shares of The Descartes Systems Group during the 4th quarter valued at $100,405,000. Morgan Stanley grew its holdings in shares of The Descartes Systems Group by 97.2% during the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock valued at $138,888,000 after acquiring an additional 780,857 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of The Descartes Systems Group by 74.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after acquiring an additional 743,104 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of The Descartes Systems Group by 140.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,100,755 shares of the technology company’s stock valued at $78,772,000 after acquiring an additional 643,071 shares in the last quarter. Finally, Temasek Holdings Private Ltd grew its holdings in shares of The Descartes Systems Group by 63.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company’s stock valued at $137,968,000 after acquiring an additional 567,386 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Down 4.5%

NASDAQ:DSGX opened at $74.11 on Thursday. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 39.84 and a beta of 0.64. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $115.88. The business’s fifty day moving average price is $71.28 and its 200 day moving average price is $76.28.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $166.96 million for the quarter, compared to analyst estimates of $173.94 million. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The Descartes Systems Group’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. Equities analysts forecast that The Descartes Systems Group will post 2.62 earnings per share for the current 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.