The Descartes Systems Group (NASDAQ:DSGX) Releases Earnings Results, Misses Expectations By $0.05 EPS

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG released its quarterly earnings data on Wednesday. The technology company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05), Zacks reports. The business had revenue of $168.74 million for the quarter, compared to the consensus estimate of $169.60 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The Descartes Systems Group's revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX traded down $12.46 during trading on Thursday, reaching $103.15. The company had a trading volume of 975,025 shares, compared to its average volume of 290,303. The Descartes Systems Group has a 52 week low of $90.61 and a 52 week high of $124.31. The stock has a market cap of $8.83 billion, a PE ratio of 64.88 and a beta of 0.88. The business's 50 day moving average price is $106.92 and its 200-day moving average price is $110.83.

Institutional Trading of The Descartes Systems Group

An institutional investor recently raised its position in The Descartes Systems Group stock. Goldman Sachs Group Inc. lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 35.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 377,140 shares of the technology company's stock after purchasing an additional 98,054 shares during the period. Goldman Sachs Group Inc. owned 0.44% of The Descartes Systems Group worth $38,027,000 at the end of the most recent quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DSGX. 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 research note on Thursday. BMO Capital Markets cut their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research note on Thursday, March 6th. Wall Street Zen cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Stephens cut their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Barclays cut their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong 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 price target of $123.40.

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.