The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $76.22.

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of The Descartes Systems Group from $74.00 to $77.00 in a report on Thursday, September 8th. TD Securities raised their target price on shares of The Descartes Systems Group from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, September 8th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Stephens lowered their target price on shares of The Descartes Systems Group to $80.00 in a research note on Friday, June 3rd. Finally, Raymond James lowered their target price on shares of The Descartes Systems Group from $83.00 to $71.00 and set a “market perform” rating for the company in a research note on Thursday, June 2nd.

The Descartes Systems Group Stock Down 5.8 %

Shares of DSGX stock opened at $62.65 on Friday. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 59.10 and a beta of 1.03. The company’s 50 day moving average is $69.01 and its 200 day moving average is $66.39. The Descartes Systems Group has a 52-week low of $56.19 and a 52-week high of $91.39.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 7th. The technology company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $123.01 million for the quarter, compared to analyst estimates of $118.72 million. The Descartes Systems Group had a net margin of 19.69% and a return on equity of 8.97%. The Descartes Systems Group’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. Analysts anticipate that The Descartes Systems Group will post 1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently made changes to their positions in DSGX. Raymond James Financial Services Advisors Inc. lifted its stake in shares of The Descartes Systems Group by 19.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,637 shares of the technology company’s stock worth $301,000 after buying an additional 590 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of The Descartes Systems Group by 1,296,800.0% during the fourth quarter. BNP Paribas Arbitrage SA now owns 12,969 shares of the technology company’s stock worth $1,072,000 after buying an additional 12,968 shares during the period. HighTower Advisors LLC acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth $212,000. Qube Research & Technologies Ltd lifted its position in The Descartes Systems Group by 139.7% during the fourth quarter. Qube Research & Technologies Ltd now owns 13,602 shares of the technology company’s stock valued at $1,125,000 after purchasing an additional 7,928 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in The Descartes Systems Group by 1.4% during the fourth quarter. JPMorgan Chase & Co. now owns 267,818 shares of the technology company’s stock valued at $22,143,000 after purchasing an additional 3,601 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Company Profile

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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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Analyst Recommendations for The Descartes Systems Group (NASDAQ:DSGX)

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