The Descartes Systems Group (NASDAQ:DSGX) Stock Rating Reaffirmed as Buy by Loop Capital

Key Points

• Loop Capital reaffirmed a “Buy” rating on Descartes Systems Group and set a $96 price target, implying 15.91% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with an average target of $99.67.
• DSGX shares rose 1.8% to $82.82, while the company reported quarterly EPS of $0.57 and revenue of $198.12 million, up 11.8% year over year and slightly above expectations.
• Institutional investors own 77.73% of the stock, with several major funds—including Wellington Management and Arrowstreet Capital—significantly increasing their positions.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG's stock had its "buy" rating restated by investment analysts at Loop Capital in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $96.00 price target on the technology company's stock. Loop Capital's price objective suggests a potential upside of 15.91% from the company's previous close.

A number of other research analysts have also recently commented on DSGX. Scotiabank boosted their price target on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a report on Friday, September 11th. Weiss Ratings raised The Descartes Systems Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, September 21st. Royal Bank Of Canada set a $125.00 price objective on The Descartes Systems Group and gave the stock an "outperform" rating in a report on Friday, September 4th. National Bank Financial upped their price objective on The Descartes Systems Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, September 14th. Finally, Scotia upped their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of "Moderate Buy" and an average price target of $99.67.

The Descartes Systems Group Stock Up 1.8%

NASDAQ DSGX traded up $1.47 during trading hours on Thursday, reaching $82.82. The company's stock had a trading volume of 395,562 shares, compared to its average volume of 618,744. The firm's 50-day moving average price is $78.46 and its 200-day moving average price is $73.94. The Descartes Systems Group has a 1 year low of $62.56 and a 1 year high of $98.35. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 38.70 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, hitting analysts' consensus estimates of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%.The company had revenue of $198.12 million for the quarter, compared to analysts' expectations of $197.54 million. During the same period in the previous year, the firm earned $0.43 EPS. The firm's revenue was up 11.8% compared to the same quarter last year. Equities research analysts anticipate that The Descartes Systems Group will post 2.37 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several large investors have recently modified their holdings of the stock. Jupiter Topco LLC bought a new position in The Descartes Systems Group in the 2nd quarter valued at $181,742,000. Janus Henderson Group PLC grew its position in The Descartes Systems Group by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company's stock valued at $184,127,000 after acquiring an additional 100,937 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in The Descartes Systems Group in the 2nd quarter valued at $141,403,000. Arrowstreet Capital Limited Partnership grew its position in The Descartes Systems Group by 74.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company's stock valued at $152,898,000 after acquiring an additional 743,104 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in The Descartes Systems Group by 640.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company's stock valued at $94,402,000 after acquiring an additional 1,179,345 shares during the last quarter. Institutional investors own 77.73% of the company's stock.

About The Descartes Systems Group

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company's products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.