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

Key Points

• The Descartes Systems Group has a consensus analyst rating of “Moderate Buy”, with 11 buy ratings, 3 hold ratings, and 1 strong buy rating across 15 analysts. The average 12-month price target is about $102.54.
• The stock was trading down 3.5% at $65.73, well below its 12-month high of $109.00 and near the lower end of its yearly range. It also trades below both its 50-day and 200-day moving averages.
• In its latest earnings report, Descartes beat EPS estimates at $0.55 per share versus $0.52 expected, while revenue came in at $166.96 million, below the consensus estimate. Revenue still rose 14.7% year over year.

The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG has earned a consensus rating of "Moderate Buy" from the fifteen analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $102.5385.

A number of research firms have recently commented on DSGX. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the company an "outperform" rating in a research report on Monday. Loop Capital reiterated a "buy" rating and set a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce increased their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Thursday, June 4th. Finally, Weiss Ratings upgraded The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday.

The Descartes Systems Group Trading Down 3.5%

Shares of DSGX opened at $65.73 on Friday. The Descartes Systems Group has a 12 month low of $62.56 and a 12 month high of $109.00. The firm has a fifty day simple moving average of $71.68 and a 200 day simple moving average of $72.41. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 32.87 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. During the same quarter last year, the firm earned $0.41 earnings per share. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts predict that The Descartes Systems Group will post 2.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in The Descartes Systems Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company's stock worth $316,050,000 after buying an additional 69,260 shares during the last quarter. Mackenzie Financial Corp lifted its stake in The Descartes Systems Group by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company's stock valued at $296,326,000 after acquiring an additional 56,069 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of 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 period. Arrowstreet Capital Limited Partnership grew its position in shares of 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 period. Finally, Morgan Stanley grew its position in shares of The Descartes Systems Group by 97.2% in the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company's stock valued at $138,888,000 after acquiring an additional 780,857 shares during the period. Institutional investors and hedge funds own 77.73% of the company's stock.

About The Descartes Systems Group

The Descartes Systems Group Inc NASDAQ: DSGX is a global provider of cloud-based logistics and supply chain management solutions. The company's software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes' modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.

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