The Descartes Systems Group (NASDAQ:DSGX) Rating Lowered to Peer Perform at Wolfe Research

Wolfe Research downgraded shares of The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) from an outperform rating to a peer perform rating in a research note published on Thursday, MarketBeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group raised their target price on shares of The Descartes Systems Group from $74.00 to $77.00 and gave the company a buy rating in a research note 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. Barclays downgraded shares of The Descartes Systems Group from an equal weight rating to an underweight rating and lowered their target price for the company from $72.00 to $60.00 in a research note on Tuesday, October 18th. Canaccord Genuity Group raised their target price on shares of The Descartes Systems Group from $74.00 to $77.00 in a research note on Thursday, September 8th. Finally, StockNews.com initiated coverage on shares of The Descartes Systems Group in a research note on Wednesday, October 12th. They issued a hold rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $74.89.

The Descartes Systems Group Stock Up 0.7 %

Shares of DSGX stock opened at $67.96 on Thursday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 64.11 and a beta of 1.03. The company’s 50 day moving average is $67.30 and its 200 day moving average is $65.76. The Descartes Systems Group has a 52-week low of $56.19 and a 52-week high of $91.22.

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 1.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prospera Financial Services Inc acquired a new position in The Descartes Systems Group during the first quarter valued at $117,000. Baird Financial Group Inc. lifted its position in The Descartes Systems Group by 4.6% during the second quarter. Baird Financial Group Inc. now owns 51,541 shares of the technology company’s stock valued at $3,199,000 after purchasing an additional 2,253 shares during the period. US Bancorp DE lifted its position in The Descartes Systems Group by 3.1% during the second quarter. US Bancorp DE now owns 14,003 shares of the technology company’s stock valued at $869,000 after purchasing an additional 415 shares during the period. Raymond James & Associates lifted its position in The Descartes Systems Group by 1.6% during the first quarter. Raymond James & Associates now owns 102,095 shares of the technology company’s stock valued at $7,479,000 after purchasing an additional 1,647 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in The Descartes Systems Group during the first quarter valued at $41,939,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Company Profile

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

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