The Descartes Systems Group (NASDAQ:DSGX) Given “Buy” Rating at Loop Capital

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

A number of other equities analysts have also recently commented on DSGX. Scotiabank lifted 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 report on Friday, September 11th. 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 report on Friday, September 4th. National Bank Financial lifted 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 report on Monday, September 14th. Scotia lifted 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 report on Friday, September 11th. Finally, Weiss Ratings raised shares of The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $99.67.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX traded up $0.85 during trading on Thursday, hitting $83.67. 250,074 shares of the company were exchanged, compared to its average volume of 616,853. The stock 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 has a 12-month low of $62.56 and a 12-month high of $98.35. The firm’s 50 day moving average price is $78.61 and its 200-day moving average price is $74.01.

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 for the quarter, hitting the consensus estimate 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 company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. As a group, equities research analysts anticipate that The Descartes Systems Group will post 2.37 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently modified their holdings of DSGX. Janus Henderson Group PLC raised its holdings in The Descartes Systems Group by 4.1% during 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 during the last quarter. Jupiter Topco LLC acquired a new position in The Descartes Systems Group during the second quarter worth $181,742,000. Arrowstreet Capital Limited Partnership raised its holdings in The Descartes Systems Group by 74.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock worth $152,898,000 after purchasing an additional 743,104 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in The Descartes Systems Group during the second quarter worth $141,403,000. Finally, Wellington Management Group LLP raised its holdings in The Descartes Systems Group by 640.7% during the second quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock worth $94,402,000 after purchasing an additional 1,179,345 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

About The Descartes Systems Group

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.