The Descartes Systems Group Inc. to Post Q3 2023 Earnings of $0.27 Per Share, William Blair Forecasts (NASDAQ:DSGX)

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) – Research analysts at William Blair dropped their Q3 2023 earnings per share (EPS) estimates for shares of The Descartes Systems Group in a research note issued to investors on Wednesday, June 1st. William Blair analyst M. Pfau now expects that the technology company will post earnings per share of $0.27 for the quarter, down from their prior forecast of $0.29. William Blair also issued estimates for The Descartes Systems Group’s Q4 2023 earnings at $0.28 EPS and FY2023 earnings at $1.09 EPS.

Several other research firms also recently commented on DSGX. StockNews.com started coverage on shares of The Descartes Systems Group in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Raymond James cut their target price on shares of The Descartes Systems Group from $83.00 to $71.00 and set a “market perform” rating on the stock in a research report on Thursday. Stephens cut their target price on shares of The Descartes Systems Group to $80.00 in a research report on Friday. Royal Bank of Canada cut their target price on shares of The Descartes Systems Group from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Finally, TD Securities cut their target price on shares of The Descartes Systems Group from $95.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $78.44.

DSGX stock opened at $62.87 on Monday. The company has a market capitalization of $5.33 billion, a PE ratio of 59.31 and a beta of 1.12. The Descartes Systems Group has a 12 month low of $56.19 and a 12 month high of $91.39. The firm’s 50-day moving average is $63.50 and its 200 day moving average is $70.81.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 1st. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $116.40 million for the quarter, compared to the consensus estimate of $113.97 million. The Descartes Systems Group had a net margin of 20.57% and a return on equity of 9.24%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS.

Hedge funds have recently added to or reduced their stakes in the stock. New Century Advisors LLC boosted its stake in The Descartes Systems Group by 74.1% in the 1st quarter. New Century Advisors LLC now owns 416 shares of the technology company’s stock worth $30,000 after purchasing an additional 177 shares in the last quarter. Sageworth Trust Co of South Dakota acquired a new stake in The Descartes Systems Group in the 4th quarter worth approximately $84,000. Lazard Asset Management LLC boosted its stake in The Descartes Systems Group by 130.9% in the 4th quarter. Lazard Asset Management LLC now owns 1,039 shares of the technology company’s stock worth $85,000 after purchasing an additional 589 shares in the last quarter. USA Financial Portformulas Corp acquired a new stake in The Descartes Systems Group in the 4th quarter worth approximately $89,000. Finally, Citigroup Inc. acquired a new stake in The Descartes Systems Group in the 4th quarter worth approximately $99,000. Institutional investors own 72.41% of the company’s stock.

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.

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