The Descartes Systems Group (NASDAQ:DSGX) Coverage Initiated at Redburn Atlantic

Stock analysts at Redburn Atlantic started coverage on shares of The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a "neutral" rating and a $90.00 price target on the technology company's stock. Redburn Atlantic's price objective would indicate a potential downside of 5.97% from the company's current price.

A number of other equities research analysts have also commented on the stock. William Blair reaffirmed an "outperform" rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. TD Securities increased their price target on The Descartes Systems Group from $95.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Barclays lifted their price objective on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an "underweight" rating in a research note on Tuesday, February 20th. Royal Bank of Canada reissued an "outperform" rating and set a $110.00 target price on shares of The Descartes Systems Group in a research note on Thursday, April 11th. Finally, Stephens raised their target price on The Descartes Systems Group from $105.00 to $107.00 and gave the company an "overweight" rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and a consensus target price of $97.60.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock traded down $1.70 on Tuesday, hitting $95.71. The stock had a trading volume of 140,884 shares, compared to its average volume of 167,484. The stock has a 50 day moving average of $92.62 and a 200 day moving average of $86.62. The firm has a market capitalization of $8.16 billion, a P/E ratio of 71.43 and a beta of 0.91. The Descartes Systems Group has a twelve month low of $69.59 and a twelve month high of $98.53.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The Descartes Systems Group's revenue was up 18.5% compared to the same quarter last year. Equities analysts expect that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. bought a new position in The Descartes Systems Group during the fourth quarter worth about $27,000. Central Pacific Bank Trust Division purchased a new position in shares of The Descartes Systems Group in the first quarter valued at $28,000. Accent Capital Management LLC purchased a new stake in shares of The Descartes Systems Group in the fourth quarter worth about $32,000. Operose Advisors LLC bought a new stake in The Descartes Systems Group during the 3rd quarter worth approximately $35,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in The Descartes Systems Group by 703.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company's stock worth $45,000 after buying an additional 429 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.