The Descartes Systems Group’s (DSGX) “Buy” Rating Reiterated at Loop Capital

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG)‘s stock had its “buy” rating restated by equities research analysts at Loop Capital in a research note issued on Thursday, Benzinga reports. They currently have a $96.00 price target on the technology company’s stock. Loop Capital’s price target would suggest a potential upside of 14.74% from the stock’s previous close.

DSGX has been the topic of several other research reports. Scotia boosted their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 11th. Weiss Ratings raised shares of The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 21st. National Bank Financial boosted their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. Scotiabank increased their target price on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday, September 11th. Finally, Royal Bank Of Canada set a $125.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.67.

The Descartes Systems Group Price Performance

DSGX opened at $83.67 on Thursday. The company’s 50-day moving average is $78.75 and its 200 day moving average is $74.10. The Descartes Systems Group has a fifty-two week low of $62.56 and a fifty-two week high of $98.35. The firm has a market capitalization of $7.16 billion, a P/E ratio of 39.10 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $198.12 million during the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. On average, equities research analysts expect that The Descartes Systems Group will post 2.37 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in shares of The Descartes Systems Group by 4.1% in the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock worth $184,127,000 after purchasing an additional 100,937 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at approximately $181,742,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of The Descartes Systems Group by 74.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after buying an additional 743,104 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in The Descartes Systems Group in the 2nd quarter worth approximately $141,403,000. Finally, Wellington Management Group LLP boosted its holdings in The Descartes Systems Group by 640.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock worth $94,402,000 after buying an additional 1,179,345 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company’s products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.