The Descartes Systems Group (NASDAQ:DSGX) Coverage Initiated by Analysts at Redburn Atlantic

Analysts at Redburn Atlantic began coverage on shares of The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The firm set a “neutral” rating and a $90.00 price target on the technology company’s stock. Redburn Atlantic’s price objective points to a potential downside of 7.61% from the stock’s previous close.

A number of other analysts also recently commented on the company. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. CIBC upgraded The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and upped their price target for the stock from $96.50 to $101.00 in a research note on Tuesday, April 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, April 11th. Barclays increased their target price on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 20th. Finally, TD Securities boosted their price objective on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average target price of $97.60.

Read Our Latest Stock Analysis on DSGX

The Descartes Systems Group Stock Up 0.0 %

NASDAQ DSGX opened at $97.41 on Tuesday. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 72.69 and a beta of 0.91. The Descartes Systems Group has a fifty-two week low of $69.59 and a fifty-two week high of $98.53. The business has a fifty day moving average of $92.41 and a 200-day moving average of $86.44.

The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $148.20 million during the quarter, compared to analyst estimates of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, analysts anticipate that The Descartes Systems Group will post 1.69 EPS for the current year.

Institutional Trading of The Descartes Systems Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its stake in The Descartes Systems Group by 8.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after purchasing an additional 154,110 shares during the last quarter. Russell Investments Group Ltd. grew its stake in The Descartes Systems Group by 14.8% during the 4th quarter. Russell Investments Group Ltd. now owns 253,893 shares of the technology company’s stock worth $21,420,000 after buying an additional 32,794 shares during the last quarter. Fiera Capital Corp increased its position in The Descartes Systems Group by 5.6% in the third quarter. Fiera Capital Corp now owns 2,215,851 shares of the technology company’s stock worth $163,085,000 after buying an additional 117,611 shares during the period. Toronto Dominion Bank lifted its stake in The Descartes Systems Group by 37.7% in the third quarter. Toronto Dominion Bank now owns 109,676 shares of the technology company’s stock valued at $8,048,000 after buying an additional 30,010 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of The Descartes Systems Group by 3.1% during the third quarter. Legal & General Group Plc now owns 413,741 shares of the technology company’s stock valued at $30,506,000 after acquiring an additional 12,312 shares during the period. 77.73% of the stock is owned by institutional investors.

About The Descartes Systems Group

(Get Free Report)

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.

Featured Stories

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

Receive News & Ratings for The Descartes Systems Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Descartes Systems Group and related companies with MarketBeat.com's FREE daily email newsletter.