The Descartes Systems Group (NASDAQ:DSGX) Rating Increased to Buy at Zacks Investment Research

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $91.00 price target on the technology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.07% from the company’s current price.

According to Zacks, “Descartes Systems Group Inc. a leading provider of software-as-a-service logistics solutions. It is delivering results across the globe today for organizations that operate logistics-intensive businesses. Descartes’ logistics management solutions combine a multi-modal network, the Descartes Global Logistics Network, with component-based ‘nano’ sized applications to provide messaging services between logistics trading partners, book-to-bill services for contract carriers and private fleet management services for organizations of all sizes. These solutions and services help Descartes’ customers reduce administrative costs, billing cycles, fleet size, contract carrier costs, and mileage driven and improve pick up and delivery reliability. Descartes Systems Group Inc. is headquartered in Waterloo, Canada. “

A number of other equities analysts also recently issued reports on the stock. Raymond James increased their price objective on shares of The Descartes Systems Group from $67.00 to $80.00 and gave the company a “market perform” rating in a research note on Thursday, September 9th. Stephens increased their target price on shares of The Descartes Systems Group from $74.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, September 9th. Canaccord Genuity increased their target price on shares of The Descartes Systems Group from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 10th. Royal Bank of Canada increased their target price on shares of The Descartes Systems Group from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, September 9th. Finally, Barclays increased their target price on shares of The Descartes Systems Group from $71.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, September 9th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $87.39.

DSGX stock traded up $2.02 during mid-day trading on Wednesday, reaching $83.43. The company had a trading volume of 64,738 shares, compared to its average volume of 90,975. The firm has a 50 day moving average of $79.05 and a 200 day moving average of $69.96. The Descartes Systems Group has a 12 month low of $51.97 and a 12 month high of $87.46. The company has a market capitalization of $7.06 billion, a PE ratio of 100.52 and a beta of 1.10.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Tuesday, September 7th. The technology company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The Descartes Systems Group had a net margin of 18.76% and a return on equity of 7.94%. The business had revenue of $104.60 million for the quarter, compared to the consensus estimate of $100.83 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. The Descartes Systems Group’s revenue for the quarter was up 24.5% on a year-over-year basis. Equities analysts anticipate that The Descartes Systems Group will post 1.19 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in DSGX. Simplex Trading LLC acquired a new stake in shares of The Descartes Systems Group in the second quarter valued at about $27,000. Van ECK Associates Corp acquired a new stake in shares of The Descartes Systems Group in the first quarter valued at about $28,000. Cullen Frost Bankers Inc. acquired a new stake in shares of The Descartes Systems Group in the second quarter valued at about $41,000. Harbor Investment Advisory LLC acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at about $58,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in The Descartes Systems Group by 16.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,035 shares of the technology company’s stock worth $72,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group, Inc engages in the provision of logistics technology solutions. It offers B2B connectivity and messaging, broker and forwarder enterprise systems, customs and regulatory compliance, ecommerce shipping and fulfillment, global trade intelligence, routing, mobile and telematics, and transportation management.

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Analyst Recommendations for The Descartes Systems Group (NASDAQ:DSGX)

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