The Descartes Systems Group (NASDAQ:DSGX) Upgraded by Morgan Stanley to “Overweight” Rating

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday,Finviz reports.

Several other analysts have also recently issued reports on DSGX. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. BMO Capital Markets reduced their target price on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. Barclays raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $106.00 to $105.00 in a research report on Monday. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.20.

The Descartes Systems Group Price Performance

DSGX opened at $86.49 on Thursday. The Descartes Systems Group has a 12 month low of $78.88 and a 12 month high of $124.31. The business has a 50-day moving average of $86.26 and a two-hundred day moving average of $95.12. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 48.86 and a beta of 0.74.

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

Institutional Investors Weigh In On The Descartes Systems Group

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in The Descartes Systems Group by 35.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after acquiring an additional 98,054 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of The Descartes Systems Group by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after purchasing an additional 660 shares during the period. Parallel Advisors LLC raised its stake in shares of The Descartes Systems Group by 35.1% during the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock valued at $59,000 after purchasing an additional 152 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of The Descartes Systems Group during the second quarter worth $1,230,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of The Descartes Systems Group by 4.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 31,500 shares of the technology company’s stock valued at $3,193,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds 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.