The Descartes Systems Group (NASDAQ:DSGX) Shares Gap Up Following Analyst Upgrade

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) shares gapped up prior to trading on Thursday after Raymond James Financial upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $82.96, but opened at $88.82. Raymond James Financial now has a $118.00 price target on the stock. The Descartes Systems Group shares last traded at $91.1890, with a volume of 440,997 shares traded.

Other analysts also recently issued research reports about the company. TD Cowen reaffirmed a “buy” rating and set a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Morgan Stanley lowered their price target on The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, November 20th. CIBC dropped their price target on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.82.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in The Descartes Systems Group during the third quarter worth $27,000. Mather Group LLC. acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at $28,000. Danske Bank A S acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at $34,000. Measured Wealth Private Client Group LLC bought a new stake in The Descartes Systems Group during the 3rd quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after buying an additional 401 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Performance

The company has a fifty day moving average price of $89.32 and a two-hundred day moving average price of $98.77. The company has a market cap of $7.86 billion, a P/E ratio of 54.02 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The company had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. During the same quarter in the previous year, the company posted $0.40 EPS. The business’s revenue was up 10.0% on a year-over-year basis. Research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

About The Descartes Systems Group

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.