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

Key Points

• The Descartes Systems Group Inc. (NASDAQ:DSGX) has received an average recommendation of "Moderate Buy" from analysts, with an average 12-month price target of $122.18.
• The company's stock is currently down 1.3%, trading at $102.46, with a 52-week low of $92.00 and a high of $124.31.
• Institutional investors own approximately 77.73% of the stock, indicating strong interest and investment from large financial entities.

The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG has been assigned a consensus recommendation of "Moderate Buy" from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $122.1818.

Several analysts have recently commented on the company. Morgan Stanley began coverage on The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. Barclays reduced their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, June 5th. Wall Street Zen lowered shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Royal Bank Of Canada cut their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th.

The Descartes Systems Group Stock Down 1.3%

Shares of NASDAQ:DSGX opened at $102.46 on Friday. The Descartes Systems Group has a fifty-two week low of $92.00 and a fifty-two week high of $124.31. The firm's 50-day simple moving average is $103.75 and its 200-day simple moving average is $106.73. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 61.72 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The firm had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. During the same quarter in the previous year, the business earned $0.40 EPS. The Descartes Systems Group's revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Trading of The Descartes Systems Group

Large investors have recently modified their holdings of the business. Mackenzie Financial Corp grew its holdings in The Descartes Systems Group by 130.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after buying an additional 2,800,492 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of The Descartes Systems Group by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock valued at $719,370,000 after acquiring an additional 936,718 shares during the last quarter. Praesidium Investment Management Company LLC acquired a new stake in shares of The Descartes Systems Group during the fourth quarter valued at $54,724,000. Granahan Investment Management LLC increased its position in The Descartes Systems Group by 715.5% during the 1st quarter. Granahan Investment Management LLC now owns 378,982 shares of the technology company's stock worth $38,213,000 after purchasing an additional 332,508 shares in the last quarter. Finally, Nuveen LLC acquired a new position in The Descartes Systems Group in the 1st quarter valued at about $21,074,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Company Profile

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.

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