The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $30.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.29% from the stock’s current price.
According to Zacks, “Descartes Systems Group Inc. a leading provider of software-as-a-service logistics solutions. It is delivering results across the globe today for organizations that operate logistics-intensive businesses. Descartes’ logistics management solutions combine a multi-modal network, the Descartes Global Logistics Network, with component-based ‘nano’ sized applications to provide messaging services between logistics trading partners, book-to-bill services for contract carriers and private fleet management services for organizations of all sizes. These solutions and services help Descartes’ customers reduce administrative costs, billing cycles, fleet size, contract carrier costs, and mileage driven and improve pick up and delivery reliability. Descartes Systems Group Inc. is headquartered in Waterloo, Canada. “
A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets reissued a “hold” rating and issued a $26.00 price target on shares of The Descartes Systems Group in a report on Thursday, August 17th. Canaccord Genuity reissued a “buy” rating and issued a $28.00 price target on shares of The Descartes Systems Group in a report on Thursday, August 17th. BidaskClub raised The Descartes Systems Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. ValuEngine raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Scotiabank boosted their price target on The Descartes Systems Group from $24.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $30.56.
The Descartes Systems Group (NASDAQ:DSGX) opened at 27.45 on Wednesday. The company has a 50 day moving average of $25.65 and a 200-day moving average of $23.86. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 85.78 and a beta of 0.58. The Descartes Systems Group has a 12-month low of $20.20 and a 12-month high of $27.55.
The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, May 31st. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.01. The firm had revenue of $54.51 million for the quarter, compared to analyst estimates of $54.09 million. The Descartes Systems Group had a return on equity of 5.78% and a net margin of 11.80%. On average, equities research analysts forecast that The Descartes Systems Group will post $0.42 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. Jarislowsky Fraser Ltd increased its stake in The Descartes Systems Group by 0.3% in the second quarter. Jarislowsky Fraser Ltd now owns 4,034,182 shares of the technology company’s stock worth $98,004,000 after buying an additional 12,590 shares during the period. Mawer Investment Management Ltd. increased its stake in shares of The Descartes Systems Group by 3.2% in the second quarter. Mawer Investment Management Ltd. now owns 3,827,966 shares of the technology company’s stock valued at $93,164,000 after buying an additional 119,191 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of The Descartes Systems Group by 32.6% in the second quarter. Conestoga Capital Advisors LLC now owns 2,118,060 shares of the technology company’s stock valued at $51,575,000 after buying an additional 521,220 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of The Descartes Systems Group by 1.7% in the second quarter. Great West Life Assurance Co. Can now owns 2,093,323 shares of the technology company’s stock valued at $50,758,000 after buying an additional 34,885 shares during the last quarter. Finally, Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 87.3% in the second quarter. Fiera Capital Corp now owns 1,573,855 shares of the technology company’s stock valued at $38,223,000 after buying an additional 733,678 shares during the last quarter. 77.35% of the stock is owned by hedge funds and other institutional investors.
About The Descartes Systems Group
Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. The Company’s network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.
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