The Descartes Systems Group (NASDAQ:DSGX) Rating Increased to Sector Outperform at CIBC

CIBC upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a neutral rating to a sector outperform rating in a report released on Tuesday, MarketBeat Ratings reports. They currently have $101.00 price objective on the technology company’s stock, up from their previous price objective of $96.50.

Other equities analysts have also issued reports about the company. William Blair restated an outperform rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. BMO Capital Markets increased their price target on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. Barclays increased their price target on The Descartes Systems Group from $71.00 to $75.00 and gave the stock 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 objective on the stock in a report on Wednesday, January 10th. Finally, Stephens upped their price objective on The Descartes Systems Group from $105.00 to $107.00 and gave the stock an overweight rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $98.44.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $90.90 on Tuesday. The Descartes Systems Group has a twelve month low of $69.59 and a twelve month high of $94.54. The stock has a market capitalization of $7.74 billion, a PE ratio of 67.84 and a beta of 0.94. The stock has a 50-day simple moving average of $89.62 and a 200 day simple moving average of $83.56.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The business had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $146.62 million. During the same quarter in the previous year, the firm earned $0.34 EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Institutional Trading of The Descartes Systems Group

A number of large investors have recently made changes to their positions in DSGX. Citigroup Inc. increased its position in shares of The Descartes Systems Group by 218.0% in the 1st quarter. Citigroup Inc. now owns 3,813 shares of the technology company’s stock valued at $279,000 after buying an additional 2,614 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in The Descartes Systems Group by 17.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,765 shares of the technology company’s stock worth $788,000 after purchasing an additional 1,568 shares in the last quarter. Natixis Advisors L.P. increased its holdings in The Descartes Systems Group by 11.1% during the 1st quarter. Natixis Advisors L.P. now owns 17,167 shares of the technology company’s stock worth $1,258,000 after purchasing an additional 1,721 shares in the last quarter. BlackRock Inc. increased its holdings in The Descartes Systems Group by 6.7% during the 1st quarter. BlackRock Inc. now owns 235,686 shares of the technology company’s stock worth $17,266,000 after purchasing an additional 14,735 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in The Descartes Systems Group by 3.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 12,412 shares of the technology company’s stock worth $967,000 after purchasing an additional 444 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

About The Descartes Systems Group

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.