Descartes Systems Group (DSGX) Lifted to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a strong-buy rating in a research note published on Thursday.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley reaffirmed an equal weight rating and issued a $31.00 price objective (down previously from $33.00) on shares of Descartes Systems Group in a research note on Tuesday, March 6th. Zacks Investment Research raised shares of Descartes Systems Group from a sell rating to a hold rating in a research note on Tuesday, February 6th. BMO Capital Markets reaffirmed a hold rating and issued a $31.00 price objective on shares of Descartes Systems Group in a research note on Wednesday, November 29th. Raymond James Financial lowered shares of Descartes Systems Group from an outperform rating to a market perform rating in a research note on Thursday, November 30th. Finally, Royal Bank of Canada lifted their price objective on shares of Descartes Systems Group from $32.00 to $35.00 and gave the company an outperform rating in a research note on Wednesday, November 22nd. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $33.83.

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Shares of Descartes Systems Group stock opened at $28.80 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.07. Descartes Systems Group has a 52 week low of $22.35 and a 52 week high of $31.23. The stock has a market cap of $2,211.09, a price-to-earnings ratio of 82.29 and a beta of 0.56.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Monday, March 5th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Descartes Systems Group had a net margin of 11.34% and a return on equity of 5.74%. The business had revenue of $63.60 million during the quarter, compared to analyst estimates of $63.07 million. During the same period in the previous year, the firm posted $0.08 EPS. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. research analysts forecast that Descartes Systems Group will post 0.48 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in Descartes Systems Group by 2.7% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 450,069 shares of the technology company’s stock worth $16,085,000 after acquiring an additional 11,701 shares during the period. Macquarie Group Ltd. raised its holdings in Descartes Systems Group by 1.8% in the 4th quarter. Macquarie Group Ltd. now owns 193,897 shares of the technology company’s stock worth $5,530,000 after acquiring an additional 3,400 shares during the period. Millennium Management LLC bought a new position in Descartes Systems Group in the 4th quarter worth $782,000. Two Sigma Investments LP raised its holdings in Descartes Systems Group by 13.4% in the 4th quarter. Two Sigma Investments LP now owns 142,106 shares of the technology company’s stock worth $4,051,000 after acquiring an additional 16,820 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in Descartes Systems Group by 83.3% in the 4th quarter. Two Sigma Advisers LP now owns 81,425 shares of the technology company’s stock worth $2,321,000 after acquiring an additional 37,000 shares during the period. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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About Descartes Systems Group

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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