The Descartes Systems Group (NASDAQ:DSGX) Stock Rating Upgraded by 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 on Wednesday, Zacks.com reports. The brokerage currently has a $91.00 price target on the technology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.07% from the stock’s previous close.

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. “

DSGX has been the subject of several other research reports. Barclays upped their price target 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. Stephens upped their price objective on shares of The Descartes Systems Group from $74.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, September 9th. Royal Bank of Canada upped their price objective on shares of The Descartes Systems Group from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, September 9th. TD Securities upped their price objective on shares of The Descartes Systems Group from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, September 9th. Finally, William Blair restated a “buy” rating on shares of The Descartes Systems Group in a research report on Thursday, September 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, The Descartes Systems Group currently has an average rating of “Buy” and a consensus price target of $87.39.

DSGX stock traded up $2.02 on Wednesday, hitting $83.43. The company’s stock 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 two-hundred day moving average of $69.96. The Descartes Systems Group has a 1 year low of $51.97 and a 1 year high of $87.46. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 100.52 and a beta of 1.10.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Tuesday, September 7th. The technology company reported $0.27 EPS for the quarter, missing the 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 during the quarter, compared to analysts’ expectations of $100.83 million. During the same quarter last year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. Analysts predict that The Descartes Systems Group will post 1.19 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in DSGX. Simplex Trading LLC purchased a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $27,000. Van ECK Associates Corp acquired a new stake in The Descartes Systems Group in the 1st quarter valued at about $28,000. Cullen Frost Bankers Inc. acquired a new stake in The Descartes Systems Group in the 2nd quarter valued at about $41,000. Harbor Investment Advisory LLC acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at about $58,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in The Descartes Systems Group by 16.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,035 shares of the technology company’s stock valued at $72,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

About The Descartes Systems Group

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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