Descartes Systems Group (NASDAQ:DSGX) Lifted to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a strong-buy rating in a research report released on Thursday, BidAskClub reports.

Several other equities analysts have also commented on the stock. Royal Bank of Canada increased their price objective on shares of Descartes Systems Group from $50.00 to $57.00 and gave the company an outperform rating in a research report on Thursday, June 4th. Zacks Investment Research raised shares of Descartes Systems Group from a sell rating to a hold rating in a research note on Monday, July 6th. TheStreet raised shares of Descartes Systems Group from a c+ rating to a b- rating in a research note on Tuesday, May 5th. BMO Capital Markets increased their target price on shares of Descartes Systems Group from $43.00 to $47.00 and gave the company a market perform rating in a research note on Thursday, May 28th. Finally, Scotiabank increased their target price on shares of Descartes Systems Group from $42.00 to $45.00 and gave the company a sector outperform rating in a research note on Tuesday, May 26th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $47.00.

DSGX stock opened at $56.33 on Thursday. Descartes Systems Group has a 52 week low of $24.35 and a 52 week high of $56.73. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $52.46 and a two-hundred day simple moving average of $44.56. The firm has a market capitalization of $4.76 billion, a P/E ratio of 119.85 and a beta of 1.06.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, May 27th. The technology company reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. Descartes Systems Group had a net margin of 12.27% and a return on equity of 5.02%. The business had revenue of $83.70 million during the quarter, compared to analyst estimates of $85.19 million. During the same quarter last year, the business earned $0.09 earnings per share. Descartes Systems Group’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that Descartes Systems Group will post 0.56 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Descartes Systems Group by 12.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,478,135 shares of the technology company’s stock worth $85,301,000 after buying an additional 277,610 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Descartes Systems Group by 8.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,409,028 shares of the technology company’s stock worth $82,847,000 after buying an additional 197,445 shares during the period. Norges Bank bought a new position in Descartes Systems Group during the 4th quarter worth about $67,327,000. Echo Street Capital Management LLC grew its holdings in Descartes Systems Group by 12.5% during the 1st quarter. Echo Street Capital Management LLC now owns 1,561,857 shares of the technology company’s stock worth $53,746,000 after acquiring an additional 173,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Descartes Systems Group by 2.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,264,134 shares of the technology company’s stock worth $43,139,000 after acquiring an additional 33,963 shares in the last quarter. 78.88% of the stock is currently owned by institutional investors.

Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

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Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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