The Descartes Systems Group (DSGX) – Research Analysts’ Weekly Ratings Updates

The Descartes Systems Group (NASDAQ: DSGX) recently received a number of ratings updates from brokerages and research firms:

• 3/13/2024 – The Descartes Systems Group was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/7/2024 – The Descartes Systems Group had its price target raised by analysts at Scotiabank from $95.00 to $100.00. They now have a “sector outperform” rating on the stock.
• 3/7/2024 – The Descartes Systems Group had its price target raised by analysts at Stephens from $105.00 to $107.00. They now have an “overweight” rating on the stock.
• 3/7/2024 – The Descartes Systems Group had its price target raised by analysts at Royal Bank of Canada from $100.00 to $110.00. They now have an “outperform” rating on the stock.
• 3/7/2024 – The Descartes Systems Group had its price target raised by analysts at CIBC from $85.00 to $95.00. They now have a “neutral” rating on the stock.
• 3/7/2024 – The Descartes Systems Group had its price target raised by analysts at Raymond James from $84.00 to $94.00. They now have a “market perform” rating on the stock.
• 3/7/2024 – The Descartes Systems Group had its price target raised by analysts at BMO Capital Markets from $88.00 to $94.00. They now have a “market perform” rating on the stock.
• 3/7/2024 – The Descartes Systems Group had its price target raised by analysts at TD Securities from $95.00 to $110.00. They now have a “buy” rating on the stock.
• 2/29/2024 – The Descartes Systems Group was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 2/21/2024 – The Descartes Systems Group was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 2/20/2024 – The Descartes Systems Group had its price target raised by analysts at Barclays PLC from $71.00 to $75.00. They now have an “underweight” rating on the stock.
• 2/13/2024 – The Descartes Systems Group was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 1/31/2024 – The Descartes Systems Group had its price target raised by analysts at Scotiabank from $86.00 to $95.00. They now have an “outperform” rating on the stock.

The Descartes Systems Group Trading Down 0.3 %

DSGX stock traded down $0.32 during midday trading on Wednesday, hitting $92.08. The company had a trading volume of 117,801 shares, compared to its average volume of 148,922. The Descartes Systems Group Inc. has a 52 week low of $69.59 and a 52 week high of $94.54. The stock’s 50 day moving average price is $88.99 and its 200 day moving average price is $81.78. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 68.72 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. Analysts predict that The Descartes Systems Group Inc. will post 1.66 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at $27,000. Captrust Financial Advisors increased its holdings in shares of The Descartes Systems Group by 270.8% during the second quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock valued at $28,000 after acquiring an additional 325 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of The Descartes Systems Group during the third quarter valued at $30,000. Accent Capital Management LLC bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at $32,000. Finally, Operose Advisors LLC bought a new position in shares of The Descartes Systems Group during the third quarter valued at $35,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's 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; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.