The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts hold a Moderate Buy consensus on Descartes Systems Group, with 11 buy ratings, one strong buy, and three holds. The average 12-month price target is $99.67, above the stock’s reported $78.62 price.
• Recent broker actions were generally positive: National Bank raised its target to $100, Scotiabank to $98, and Royal Bank of Canada set a $125 target, all with outperform-related ratings.
• Descartes reported quarterly EPS of $0.57 in line with estimates and revenue of $198.12 million, up 11.8% year over year. Institutional investors own 77.73% of the company.

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG have been given an average recommendation of "Moderate Buy" by the fifteen brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $99.67.

A number of research firms recently weighed in on DSGX. National Bank Financial upped their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, September 14th. Scotiabank boosted their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a "sector outperform" rating in a report on Friday, September 11th. Royal Bank Of Canada set a $125.00 price target on shares of The Descartes Systems Group and gave the company an "outperform" rating in a report on Friday, September 4th. Weiss Ratings raised shares of The Descartes Systems Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, September 21st. Finally, Scotia increased their price objective on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a "sector outperform" rating in a research note on Friday, September 11th.

Institutional Trading of The Descartes Systems Group

Several hedge funds and other institutional investors have recently bought and sold shares of DSGX. Trust Co. of Vermont purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter worth $33,000. Keating Financial Advisory Services Inc. bought a new position in The Descartes Systems Group in the second quarter worth about $38,000. EverSource Wealth Advisors LLC lifted its position in shares of The Descartes Systems Group by 57.5% during the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock valued at $39,000 after buying an additional 200 shares during the last quarter. Allworth Financial LP bought a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at about $49,000. Finally, Parallel Advisors LLC boosted its holdings in shares of The Descartes Systems Group by 124.7% in the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company's stock valued at $54,000 after buying an additional 419 shares in the last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Down 2.5%

Shares of NASDAQ DSGX opened at $78.62 on Wednesday. The Descartes Systems Group has a twelve month low of $62.56 and a twelve month high of $98.35. The firm has a market cap of $6.73 billion, a PE ratio of 36.74 and a beta of 0.65. The business has a fifty day simple moving average of $78.28 and a two-hundred day simple moving average of $73.83.

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 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.57. The business had revenue of $198.12 million for the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%.The business's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 EPS. On average, research analysts expect that The Descartes Systems Group will post 2.37 earnings per share for the current year.

The Descartes Systems Group Company Profile

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.

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