The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Consensus Rating of “Hold” from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Free Report) (TSE:DSG) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $97.78.

DSGX has been the subject of several research analyst reports. Wolfe Research upgraded shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research note on Wednesday, January 10th. Raymond James boosted their price target on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Royal Bank of Canada upped their target price on shares of The Descartes Systems Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Scotiabank upped their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a research note on Thursday, March 7th. Finally, Stephens upped their target price on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th.

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Institutional Trading of The Descartes Systems Group

A number of institutional investors have recently made changes to their positions in DSGX. Price T Rowe Associates Inc. MD boosted its stake in shares of The Descartes Systems Group by 20.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,948,727 shares of the technology company’s stock valued at $762,578,000 after purchasing an additional 1,834,084 shares during the period. Norges Bank purchased a new stake in The Descartes Systems Group in the fourth quarter worth $92,571,000. Durable Capital Partners LP lifted its position in The Descartes Systems Group by 60.6% during the first quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock valued at $189,381,000 after buying an additional 975,727 shares during the period. Wasatch Advisors Inc. purchased a new position in The Descartes Systems Group during the first quarter valued at $66,482,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of The Descartes Systems Group by 547.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,058,300 shares of the technology company’s stock valued at $65,677,000 after acquiring an additional 894,814 shares in the last quarter. Hedge funds and other institutional investors own 76.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $92.26 on Tuesday. The company has a market cap of $7.85 billion, a PE ratio of 68.85 and a beta of 0.94. The Descartes Systems Group has a one year low of $69.59 and a one year high of $94.54. The firm’s 50 day simple moving average is $88.82 and its 200 day simple moving average is $81.66.

The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The firm had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 EPS. Equities research analysts expect that The Descartes Systems Group will post 1.66 EPS for the current year.

The Descartes Systems Group Company Profile

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The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.

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

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