The Descartes Systems Group (NASDAQ:DSGX) Rating Increased to Buy at StockNews.com

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other research firms also recently weighed in on DSGX. Raymond James decreased their price target on The Descartes Systems Group from $83.00 to $71.00 and set a “market perform” rating on the stock in a research note on Thursday, June 2nd. CIBC downgraded The Descartes Systems Group from a “sector outperform” rating to a “neutral” rating and decreased their price target for the company from $89.00 to $71.00 in a research note on Monday, June 27th. TD Securities decreased their target price on The Descartes Systems Group from $95.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. Royal Bank of Canada decreased their target price on 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, Barclays boosted their target price on The Descartes Systems Group from $61.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, June 3rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average price target of $76.38.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $68.19 on Friday. The Descartes Systems Group has a 1-year low of $56.19 and a 1-year high of $91.39. The company has a market cap of $5.78 billion, a PE ratio of 64.33 and a beta of 1.04. The stock’s 50 day moving average price is $62.50 and its 200 day moving average price is $66.75.

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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The Descartes Systems Group had a return on equity of 9.17% and a net margin of 20.57%. The firm had revenue of $116.40 million for the quarter, compared to the consensus estimate of $113.97 million. During the same period in the previous year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that The Descartes Systems Group will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently made changes to their positions in the stock. New Century Advisors LLC raised its holdings in shares of The Descartes Systems Group by 74.1% in the first quarter. New Century Advisors LLC now owns 416 shares of the technology company’s stock worth $30,000 after acquiring an additional 177 shares during the last quarter. We Are One Seven LLC raised its holdings in shares of The Descartes Systems Group by 5.8% in the fourth quarter. We Are One Seven LLC now owns 3,487 shares of the technology company’s stock worth $288,000 after acquiring an additional 190 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of The Descartes Systems Group by 4.0% in the second quarter. Raymond James Trust N.A. now owns 5,143 shares of the technology company’s stock worth $319,000 after acquiring an additional 196 shares during the last quarter. Lindenwold Advisors raised its holdings in shares of The Descartes Systems Group by 5.3% in the first quarter. Lindenwold Advisors now owns 4,784 shares of the technology company’s stock worth $350,000 after acquiring an additional 240 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of The Descartes Systems Group by 3.2% in the first quarter. Hsbc Holdings PLC now owns 7,888 shares of the technology company’s stock worth $580,000 after acquiring an additional 246 shares during the last quarter. 72.41% of the stock is 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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