The Descartes Systems Group (NASDAQ:DSGX) Raised to Overweight at Barclays

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $105.00 target price on the technology company’s stock, down from their previous target price of $106.00. Barclays‘s target price suggests a potential upside of 20.05% from the company’s current price.

DSGX has been the subject of a number of other reports. TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. BMO Capital Markets decreased their price objective on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Royal Bank Of Canada set a $126.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, December 1st. TD Cowen restated a “buy” rating and set a $121.00 price objective on shares of The Descartes Systems Group in a report on Friday, October 3rd. Finally, Raymond James Financial upgraded shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average target price of $116.20.

The Descartes Systems Group Trading Up 2.2%

The Descartes Systems Group stock opened at $87.46 on Monday. The stock has a 50-day moving average price of $86.18 and a two-hundred day moving average price of $95.37. The Descartes Systems Group has a 12 month low of $78.88 and a 12 month high of $124.31. The company has a market capitalization of $7.52 billion, a PE ratio of 49.41 and a beta of 0.74.

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 company had revenue of $186.78 million for the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, analysts predict 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

A number of hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of The Descartes Systems Group in the 3rd quarter worth about $27,000. Mather Group LLC. purchased a new position in The Descartes Systems Group in the third quarter valued at about $28,000. Danske Bank A S bought a new position in shares of The Descartes Systems Group during the 3rd quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of The Descartes Systems Group during the 3rd quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd raised 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 purchasing an additional 401 shares during the period. 77.73% of the stock is currently owned by institutional investors.

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.