BidaskClub Lowers Descartes Systems Group (DSGX) to Buy

BidaskClub downgraded shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a strong-buy rating to a buy rating in a report released on Thursday morning.

Several other equities research analysts have also weighed in on the company. Morgan Stanley reiterated an equal weight rating and issued a $31.00 price objective (down from $33.00) on shares of Descartes Systems Group in a research note on Tuesday, March 6th. Zacks Investment Research upgraded Descartes Systems Group from a sell rating to a hold rating in a research note on Tuesday, February 6th. Barclays upped their price objective on Descartes Systems Group from $32.00 to $33.00 and gave the company an overweight rating in a research note on Thursday, November 30th. BMO Capital Markets reiterated a hold rating and issued a $31.00 price objective on shares of Descartes Systems Group in a research note on Wednesday, November 29th. Finally, Raymond James Financial lowered Descartes Systems Group from an outperform rating to a market perform rating in a research note on Thursday, November 30th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $33.83.

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DSGX stock opened at $28.55 on Thursday. Descartes Systems Group has a 1-year low of $22.35 and a 1-year high of $31.23. The company has a market capitalization of $2,191.90, a PE ratio of 81.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.11.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Monday, March 5th. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Descartes Systems Group had a net margin of 11.34% and a return on equity of 5.74%. The company had revenue of $63.60 million during the quarter, compared to the consensus estimate of $63.07 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. analysts forecast that Descartes Systems Group will post 0.48 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in Descartes Systems Group during the 4th quarter worth approximately $288,000. Legal & General Group Plc grew its position in Descartes Systems Group by 48.2% during the 3rd quarter. Legal & General Group Plc now owns 11,549 shares of the technology company’s stock worth $314,000 after acquiring an additional 3,754 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Descartes Systems Group by 13.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 15,285 shares of the technology company’s stock worth $418,000 after acquiring an additional 1,829 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Descartes Systems Group by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 17,253 shares of the technology company’s stock worth $420,000 after acquiring an additional 1,064 shares during the last quarter. Finally, DF Dent & Co. Inc. bought a new stake in Descartes Systems Group during the 3rd quarter worth approximately $480,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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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.

Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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