The Descartes Systems Group (NASDAQ:DSGX) Reaches New 1-Year High - Time to Buy?

Key Points

• Descartes Systems Group shares reached a new 52-week high, trading as high as $95.74 and last quoted at $96.4540.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $100.33; individual targets range as high as $125.
• Latest quarterly revenue rose 11.8% year over year to $198.12 million, slightly above estimates, while EPS of $0.57 matched expectations.

The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG's stock price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $95.74 and last traded at $96.4540, with a volume of 49,392 shares trading hands. The stock had previously closed at $94.74.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several research analyst reports. Scotiabank boosted their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a research report on Friday, September 11th. National Bank Financial upped their price target 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. Loop Capital reissued a "buy" rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, October 8th. Royal Bank Of Canada set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a research note on Friday, September 4th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group has a consensus rating of "Moderate Buy" and an average target price of $100.33.

The Descartes Systems Group Stock Performance

The company has a market capitalization of $8.10 billion, a P/E ratio of 44.29 and a beta of 0.65. The firm has a 50 day moving average price of $83.17 and a two-hundred day moving average price of $74.93.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $197.54 million. During the same period last year, the business earned $0.43 earnings per share. The business's revenue was up 11.8% on a year-over-year basis. On average, equities analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group during the second quarter worth $33,000. Keating Financial Advisory Services Inc. bought a new stake in shares of The Descartes Systems Group in the second quarter worth $38,000. EverSource Wealth Advisors LLC grew its stake in shares of The Descartes Systems Group by 57.5% in the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Allworth Financial LP acquired a new stake in The Descartes Systems Group in the second quarter valued at $49,000. Finally, Parallel Advisors LLC increased its holdings in The Descartes Systems Group by 124.7% in the first quarter. Parallel Advisors LLC now owns 755 shares of the technology company's stock valued at $54,000 after purchasing an additional 419 shares during the period. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes' products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.