The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Consensus Rating of “Hold” from Brokerages

by · The Cerbat Gem

The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Free Report) (TSE:DSG) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $85.00.

Several equities research analysts recently issued reports on DSGX shares. Stephens lifted their price objective on The Descartes Systems Group from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, September 7th. Scotiabank reissued a “sector outperform” rating and issued a $86.00 price target on shares of The Descartes Systems Group in a research note on Friday, September 8th. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 4th. Finally, Royal Bank of Canada lifted their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, September 7th.

Get Our Latest Report on The Descartes Systems Group

The Descartes Systems Group Stock Down 0.0 %

NASDAQ DSGX opened at $81.11 on Wednesday. The company has a market cap of $6.90 billion, a PE ratio of 61.92 and a beta of 1.00. The Descartes Systems Group has a 52 week low of $64.23 and a 52 week high of $82.38. The firm’s 50-day simple moving average is $74.85 and its two-hundred day simple moving average is $75.81.

The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG) last posted its earnings results on Wednesday, September 6th. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $143.39 million for the quarter, compared to analysts’ expectations of $139.95 million. The Descartes Systems Group had a return on equity of 10.22% and a net margin of 21.60%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. As a group, equities research analysts anticipate that The Descartes Systems Group will post 1.33 EPS for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its position in shares of The Descartes Systems Group by 270.8% in the 2nd quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock worth $28,000 after purchasing an additional 325 shares during the last quarter. Fred Alger Management LLC purchased a new position in The Descartes Systems Group in the third quarter worth about $30,000. Operose Advisors LLC bought a new position in shares of The Descartes Systems Group in the third quarter worth approximately $35,000. Signaturefd LLC grew its holdings in shares of The Descartes Systems Group by 47.1% during the second quarter. Signaturefd LLC now owns 550 shares of the technology company’s stock valued at $44,000 after buying an additional 176 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in The Descartes Systems Group in the 3rd quarter worth approximately $64,000. 76.73% of the stock is owned by institutional investors.

The Descartes Systems Group Company Profile

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The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's 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; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.

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