The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Consensus Recommendation of “Moderate Buy” by Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $97.60.

A number of brokerages have issued reports on DSGX. Barclays increased their target price on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a report on Tuesday, February 20th. Redburn Atlantic assumed coverage on shares of The Descartes Systems Group in a research note on Tuesday. They set a “neutral” rating and a $90.00 price objective for the company. Scotiabank raised their price objective 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. CIBC raised shares of The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and raised their price objective for the stock from $96.50 to $101.00 in a research note on Tuesday, April 16th. Finally, Raymond James raised their price objective on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $95.71 on Wednesday. The stock’s 50-day moving average is $92.62 and its two-hundred day moving average is $86.62. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 71.43 and a beta of 0.91. The Descartes Systems Group has a 1 year low of $69.59 and a 1 year high of $98.53.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $146.62 million. During the same period last year, the company posted $0.34 earnings per share. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, research analysts predict 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 hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of The Descartes Systems Group during the 4th quarter valued at $92,571,000. Westfield Capital Management Co. LP acquired a new position in shares of The Descartes Systems Group during the 1st quarter valued at $47,481,000. Clearbridge Investments LLC acquired a new position in shares of The Descartes Systems Group during the 4th quarter valued at $36,767,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of The Descartes Systems Group by 497.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 428,279 shares of the technology company’s stock valued at $36,001,000 after acquiring an additional 356,560 shares in the last quarter. Finally, Riverbridge Partners LLC lifted its holdings in The Descartes Systems Group by 36.6% in the 1st quarter. Riverbridge Partners LLC now owns 976,613 shares of the technology company’s stock worth $89,389,000 after buying an additional 261,688 shares in the last quarter. Institutional investors and hedge funds 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.