Brokers Issue Forecasts for The Descartes Systems Group Inc.’s Q2 2024 Earnings (NASDAQ:DSGX)

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) – Analysts at William Blair boosted their Q2 2024 EPS estimates for shares of The Descartes Systems Group in a research report issued to clients and investors on Wednesday, June 1st. William Blair analyst M. Pfau now forecasts that the technology company will post earnings of $0.33 per share for the quarter, up from their previous forecast of $0.32.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last announced its earnings results on Wednesday, June 1st. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $116.40 million during the quarter, compared to analyst estimates of $113.97 million. The Descartes Systems Group had a net margin of 20.57% and a return on equity of 9.24%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS.

Several other equities research analysts have also issued reports on the stock. StockNews.com initiated coverage on shares of The Descartes Systems Group in a report on Thursday, March 31st. They issued a “buy” rating for the company. Barclays increased their price objective on shares of The Descartes Systems Group from $61.00 to $62.00 in a report on Friday. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $81.00 to $68.00 in a research report on Thursday. Royal Bank of Canada cut their price objective on The Descartes Systems Group from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Finally, Zacks Investment Research lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $80.22.

Shares of DSGX stock opened at $63.23 on Friday. The Descartes Systems Group has a 12 month low of $56.19 and a 12 month high of $91.39. The stock has a market cap of $5.36 billion, a P/E ratio of 59.65 and a beta of 1.12. The company has a 50 day simple moving average of $63.72 and a two-hundred day simple moving average of $71.26.

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of The Descartes Systems Group by 672.5% during the second quarter. Wells Fargo & Company MN now owns 11,618 shares of the technology company’s stock worth $804,000 after purchasing an additional 10,114 shares in the last quarter. Morgan Stanley grew its holdings in shares of The Descartes Systems Group by 55.6% during the second quarter. Morgan Stanley now owns 97,163 shares of the technology company’s stock worth $6,720,000 after buying an additional 34,735 shares in the last quarter. BlackRock Inc. raised its position in shares of The Descartes Systems Group by 8.1% in the third quarter. BlackRock Inc. now owns 206,003 shares of the technology company’s stock valued at $16,740,000 after buying an additional 15,470 shares during the last quarter. Barclays PLC lifted its stake in shares of The Descartes Systems Group by 297.6% in the third quarter. Barclays PLC now owns 6,294 shares of the technology company’s stock worth $511,000 after buying an additional 4,711 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in The Descartes Systems Group by 99.3% during the third quarter. Alliancebernstein L.P. now owns 8,029 shares of the technology company’s stock worth $652,000 after acquiring an additional 4,000 shares during the last quarter. 72.41% of the stock is owned by institutional investors and hedge funds.

About The Descartes Systems Group (Get Rating)

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.

Further Reading

Earnings History and Estimates for The Descartes Systems Group (NASDAQ:DSGX)

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