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

Loop Capital reaffirmed their buy rating on shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a report issued on Thursday,Benzinga reports. Loop Capital currently has a $96.00 price objective on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on the company. National Bank Financial increased their price target on 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 lifted their price objective on shares of 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 upgraded shares of The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 21st. Scotia increased their price objective 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 stock an “outperform” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $99.67.

The Descartes Systems Group Stock Up 1.8%

Shares of NASDAQ DSGX opened at $82.82 on Thursday. The business’s 50 day moving average price is $78.61 and its two-hundred day moving average price is $74.00. The company has a market cap of $7.09 billion, a PE ratio of 38.70 and a beta of 0.65. The Descartes Systems Group has a twelve month low of $62.56 and a twelve month high of $98.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The company had revenue of $198.12 million during the quarter, compared to analysts’ expectations of $197.54 million. During the same period last year, the firm posted $0.43 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. As a group, research analysts anticipate that The Descartes Systems Group will post 2.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DSGX. Versant Capital Management Inc increased its stake in shares of The Descartes Systems Group by 9.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,467 shares of the technology company’s stock valued at $119,000 after acquiring an additional 129 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in The Descartes Systems Group by 57.5% during the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Parallel Advisors LLC boosted its stake in The Descartes Systems Group by 124.7% during the first quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock worth $54,000 after acquiring an additional 419 shares in the last quarter. Value Partners Investments Inc. boosted its stake in The Descartes Systems Group by 6.7% during the first quarter. Value Partners Investments Inc. now owns 6,758 shares of the technology company’s stock worth $483,000 after acquiring an additional 423 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in The Descartes Systems Group in the second quarter worth $33,000. 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.