StockNews.com Upgrades The Descartes Systems Group (NASDAQ:DSGX) to Buy

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

DSGX has been the topic of several other reports. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. Royal Bank of Canada increased their target price on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Loop Capital initiated coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. BMO Capital Markets upped their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, TD Securities lifted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.92.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $117.46 on Wednesday. The firm has a market capitalization of $10.05 billion, a PE ratio of 73.87 and a beta of 0.99. The Descartes Systems Group has a 52-week low of $84.12 and a 52-week high of $122.88. The firm has a fifty day moving average of $116.25 and a 200 day moving average of $107.44.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the previous year, the firm earned $0.31 earnings per share. On average, sell-side analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in The Descartes Systems Group by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 111,351 shares of the technology company’s stock valued at $10,784,000 after acquiring an additional 9,698 shares in the last quarter. Ascent Group LLC purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter worth about $275,000. Creative Planning boosted its stake in shares of The Descartes Systems Group by 70.5% during the 2nd quarter. Creative Planning now owns 12,762 shares of the technology company’s stock valued at $1,236,000 after purchasing an additional 5,275 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of The Descartes Systems Group by 28.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after purchasing an additional 279 shares in the last quarter. Finally, Truist Financial Corp increased its position in shares of The Descartes Systems Group by 13.0% during the second quarter. Truist Financial Corp now owns 8,458 shares of the technology company’s stock valued at $819,000 after buying an additional 975 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Company Profile

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.