The Descartes Systems Group (NASDAQ:DSGX) Upgraded by Barclays to “Overweight” Rating

Barclays upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from an equal weight rating to an overweight rating in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage currently has $105.00 target price on the technology company’s stock, down from their previous target price of $106.00.

Other equities research analysts also recently issued reports about the company. TD Cowen reaffirmed a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price for the company in a research note on Thursday, December 4th. Scotiabank dropped their price target on The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. CIBC cut their price target on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, Morgan Stanley increased their price objective on The Descartes Systems Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus price target of $116.20.

The Descartes Systems Group Stock Up 1.3%

NASDAQ:DSGX opened at $88.62 on Monday. The company’s 50 day moving average is $86.18 and its 200-day moving average is $95.27. The Descartes Systems Group has a 12 month low of $78.88 and a 12 month high of $124.31. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 50.07 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $186.78 million for the quarter, compared to analyst estimates of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The Descartes Systems Group’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. Research analysts predict that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DSGX. Quarry LP acquired a new stake in The Descartes Systems Group during the third quarter worth $27,000. Mather Group LLC. bought a new position in shares of The Descartes Systems Group during the 3rd quarter worth about $28,000. Danske Bank A S acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at about $34,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at about $40,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after acquiring an additional 401 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.