The Descartes Systems Group (NASDAQ:DSGX) Reaches New 52-Week Low After Analyst Downgrade

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)’s stock price reached a new 52-week low on Wednesday after Scotiabank lowered their price target on the stock from $115.00 to $95.00. Scotiabank currently has an outperform rating on the stock. The Descartes Systems Group traded as low as $64.42 and last traded at $64.4490, with a volume of 59180 shares changing hands. The stock had previously closed at $66.36.

Several other research analysts also recently weighed in on DSGX. 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. Zacks Research upgraded The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. BMO Capital Markets dropped their price objective on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, December 4th. Finally, TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $114.20.

Institutional Trading of The Descartes Systems Group

Large investors have recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC raised its position in The Descartes Systems Group by 29.1% in the fourth quarter. Meridian Wealth Management LLC now owns 4,307 shares of the technology company’s stock valued at $378,000 after purchasing an additional 970 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at about $303,000. R Squared Ltd purchased a new stake in shares of The Descartes Systems Group during the 4th quarter valued at about $264,000. M&T Bank Corp lifted its position in The Descartes Systems Group by 20.2% during the 4th quarter. M&T Bank Corp now owns 13,932 shares of the technology company’s stock worth $1,224,000 after acquiring an additional 2,339 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in The Descartes Systems Group by 16.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 45,206 shares of the technology company’s stock worth $3,971,000 after acquiring an additional 6,226 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

The stock has a fifty day simple moving average of $85.56 and a two-hundred day simple moving average of $92.68. The stock has a market cap of $5.76 billion, a PE ratio of 37.83 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data 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 Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The company had revenue of $186.78 million for the quarter, compared to analyst estimates of $184.24 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

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.