The Descartes Systems Group (NASDAQ:DSGX) Hits New 1-Year Low - Time to Sell?

Key Points

• The Descartes Systems Group (NASDAQ:DSGX) hit a new 52-week low of $91.89 during trading, closing at $91.91, with over 228,000 shares traded.
• Analysts have mixed views on the stock, with ratings ranging from "buy" to "hold," and an average price target of $123.44.
• Recently, the company reported $0.43 EPS, missing estimates of $0.49, although revenue rose by 10% compared to the same quarter last year.

The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG reached a new 52-week low during trading on Wednesday . The stock traded as low as $91.89 and last traded at $91.91, with a volume of 228298 shares traded. The stock had previously closed at $94.23.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DSGX. Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Barclays cut their price target 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. Morgan Stanley started coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target for the company. Zacks Research upgraded The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, Royal Bank Of Canada cut their price target on 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. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $123.44.

The Descartes Systems Group Stock Performance

The stock has a market cap of $7.87 billion, a PE ratio of 54.18 and a beta of 0.80. The stock has a fifty day moving average price of $101.86 and a 200 day moving average price of $103.55.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The company had revenue of $178.98 million during the quarter, compared to analysts' expectations of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The Descartes Systems Group's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently modified their holdings of DSGX. Norges Bank bought a new stake in shares of The Descartes Systems Group during the 2nd quarter worth approximately $117,678,000. Price T Rowe Associates Inc. MD lifted its stake in shares of The Descartes Systems Group by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock worth $719,370,000 after acquiring an additional 936,718 shares during the last quarter. Temasek Holdings Private Ltd bought a new stake in shares of The Descartes Systems Group during the 2nd quarter worth approximately $91,155,000. CIBC Asset Management Inc lifted its stake in shares of The Descartes Systems Group by 275.4% during the 2nd quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company's stock worth $85,085,000 after acquiring an additional 613,009 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in shares of The Descartes Systems Group during the 2nd quarter worth approximately $48,378,000. 77.73% of the stock is owned by institutional investors.

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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