The Descartes Systems Group (NASDAQ:DSGX) Stock Rating Upgraded by Barclays

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Monday, MarketBeat reports. The brokerage presently has a $105.00 price objective on the technology company’s stock, down from their previous price objective of $106.00. Barclays‘s price objective would suggest a potential upside of 20.05% from the stock’s current price.

A number of other research firms have also weighed in on DSGX. Morgan Stanley lifted their target price on The Descartes Systems Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, December 9th. TD Cowen reaffirmed a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a report on Friday, October 3rd. Royal Bank Of Canada set a $126.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. BMO Capital Markets lowered their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.20.

The Descartes Systems Group Stock Up 2.2%

NASDAQ DSGX opened at $87.46 on Monday. The firm’s 50-day simple moving average is $86.18 and its two-hundred day simple moving average is $95.37. The Descartes Systems Group has a 52 week low of $78.88 and a 52 week high of $124.31. The company has a market cap of $7.52 billion, a PE ratio of 49.41 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.46 by $0.04. The company had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The Descartes Systems Group’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. As a group, equities research analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DSGX. Goldman Sachs Group Inc. lifted its position in The Descartes Systems Group by 35.1% in the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after purchasing an additional 98,054 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in The Descartes Systems Group by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after buying an additional 660 shares during the last quarter. Parallel Advisors LLC boosted its position in The Descartes Systems Group by 35.1% during the 2nd quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock valued at $59,000 after buying an additional 152 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in The Descartes Systems Group during the 2nd quarter valued at $1,230,000. Finally, Channel Wealth LLC bought a new stake in The Descartes Systems Group in the 2nd quarter worth $308,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.