Descartes Systems Group (NASDAQ:DSGX) Receives New Coverage from Analysts at TD Securities

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Analysts at TD Securities started coverage on shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $46.00 price target on the technology company’s stock. TD Securities’ price objective would suggest a potential upside of 18.56% from the stock’s current price.

A number of other brokerages have also issued reports on DSGX. BMO Capital Markets set a $37.00 target price on shares of Descartes Systems Group and gave the company a “hold” rating in a research note on Thursday, March 7th. Zacks Investment Research raised shares of Descartes Systems Group from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, April 2nd. Royal Bank of Canada boosted their target price on shares of Descartes Systems Group from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. ValuEngine lowered shares of Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, Raymond James boosted their target price on shares of Descartes Systems Group from $31.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.33.

DSGX stock opened at $38.80 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.46. Descartes Systems Group has a twelve month low of $25.19 and a twelve month high of $41.60. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 98.03 and a beta of 0.83.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.05). Descartes Systems Group had a net margin of 11.05% and a return on equity of 5.96%. The firm had revenue of $78.00 million for the quarter, compared to the consensus estimate of $78.60 million. During the same quarter last year, the firm earned $0.09 EPS. The company’s revenue was up 16.4% on a year-over-year basis. As a group, analysts anticipate that Descartes Systems Group will post 0.41 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jarislowsky Fraser Ltd lifted its stake in Descartes Systems Group by 3.0% during the first quarter. Jarislowsky Fraser Ltd now owns 4,214,856 shares of the technology company’s stock worth $153,267,000 after purchasing an additional 123,580 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in Descartes Systems Group by 7.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 3,507,360 shares of the technology company’s stock worth $93,155,000 after purchasing an additional 251,377 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in Descartes Systems Group by 0.6% during the first quarter. Conestoga Capital Advisors LLC now owns 3,449,473 shares of the technology company’s stock worth $125,492,000 after purchasing an additional 20,782 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Descartes Systems Group by 3.4% during the first quarter. Janus Henderson Group PLC now owns 2,326,331 shares of the technology company’s stock worth $84,611,000 after purchasing an additional 76,463 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Descartes Systems Group by 2.7% during the first quarter. Bank of Montreal Can now owns 1,980,986 shares of the technology company’s stock worth $72,069,000 after purchasing an additional 52,840 shares during the last quarter. 80.44% of the stock is currently owned by institutional investors and hedge funds.

About Descartes Systems Group

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

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Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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