The Descartes Systems Group (NASDAQ:DSGX) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a research note released on Thursday morning, Benzinga reports. They currently have a $110.00 price target on the technology company’s stock.

Other research analysts have also recently issued reports about the company. Barclays increased their price target on The Descartes Systems Group from $71.00 to $75.00 and gave the company an underweight rating in a research report on Tuesday, February 20th. Wolfe Research raised The Descartes Systems Group from a peer perform rating to an outperform rating and set a $95.00 price target for the company in a research report on Wednesday, January 10th. Stephens increased their price target on The Descartes Systems Group from $105.00 to $107.00 and gave the company an overweight rating in a research report on Thursday, March 7th. BMO Capital Markets raised their price objective on The Descartes Systems Group from $88.00 to $94.00 and gave the company a market perform rating in a research report on Thursday, March 7th. Finally, TD Securities raised their price objective on The Descartes Systems Group from $95.00 to $110.00 and gave the company a buy rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, The Descartes Systems Group has an average rating of Moderate Buy and a consensus price target of $97.78.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $88.71 on Thursday. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 66.20 and a beta of 0.94. The stock’s 50-day moving average is $89.57 and its 200-day moving average is $83.26. The Descartes Systems Group has a one year low of $69.59 and a one year high of $94.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 earnings per share. On average, equities analysts expect that The Descartes Systems Group will post 1.69 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of large investors have recently made changes to their positions in DSGX. Brown Brothers Harriman & Co. bought a new position in The Descartes Systems Group during the 4th quarter worth $27,000. Captrust Financial Advisors increased its stake in The Descartes Systems Group by 270.8% during the 2nd quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock worth $28,000 after acquiring an additional 325 shares during the period. Fred Alger Management LLC bought a new position in The Descartes Systems Group during the 3rd quarter worth $30,000. Accent Capital Management LLC bought a new position in The Descartes Systems Group during the 4th quarter worth $32,000. Finally, Operose Advisors LLC bought a new position in The Descartes Systems Group during the 3rd quarter worth $35,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its 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; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.