The Descartes Systems Group (NASDAQ:DSGX) Upgraded to “Buy” at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a neutral rating to a buy rating in a research note released on Thursday, Marketbeat reports. They currently have $90.00 price target on the technology company’s stock, down from their previous price target of $100.00.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings lowered shares of The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. Morgan Stanley dropped their target price on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Zacks Research lowered shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Canaccord Genuity Group dropped their target price on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Finally, BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.45.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $75.80 on Thursday. The firm has a market cap of $6.52 billion, a PE ratio of 40.75 and a beta of 0.71. The firm has a fifty day moving average of $68.99 and a 200 day moving average of $80.96. The Descartes Systems Group has a one year low of $62.56 and a one year high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The business had revenue of $192.37 million during the quarter, compared to analyst estimates of $188.09 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts predict that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of hedge funds have recently modified their holdings of DSGX. Quarry LP purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at about $27,000. Mather Group LLC. purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at about $28,000. Danske Bank A S purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at about $34,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at about $40,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of 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 purchasing an additional 401 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.