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

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received a consensus recommendation of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $114.20.

DSGX has been the subject of several recent analyst reports. Zacks Research raised The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a research report on Thursday, December 4th. TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. BMO Capital Markets lowered 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 research note on Thursday, December 4th. Finally, Scotiabank reduced their price target on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $66.25 on Tuesday. The firm has a 50-day moving average of $77.86 and a 200-day moving average of $88.09. The Descartes Systems Group has a one year low of $62.56 and a one year high of $117.35. The company has a market cap of $5.70 billion, a P/E ratio of 37.43 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The business had revenue of $186.78 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, research analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several large investors have recently modified their holdings of the stock. Quarry LP purchased a new position in The Descartes Systems Group in the third quarter valued at approximately $27,000. Mather Group LLC. bought a new stake in shares of The Descartes Systems Group in the third quarter valued at $28,000. Danske Bank A S purchased a new position in shares of The Descartes Systems Group during the 3rd quarter valued at $34,000. Measured Wealth Private Client Group LLC bought a new position in shares of The Descartes Systems Group during the 3rd quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in 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. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.