Morgan Stanley Begins Coverage on The Descartes Systems Group (NASDAQ:DSGX)

Equities researchers at Morgan Stanley started coverage on shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set an “equal weight” rating and a $110.00 price target on the technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 9.32% from the stock’s current price.

Other analysts have also issued reports about the stock. Stephens dropped their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Scotiabank increased their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 26th. Barclays lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, June 5th. Finally, Royal Bank Of Canada lowered their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a report on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $122.18.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $100.62 on Monday. The company has a market cap of $8.63 billion, a P/E ratio of 60.65 and a beta of 0.82. The Descartes Systems Group has a 1 year low of $90.61 and a 1 year high of $124.31. The stock’s fifty day moving average price is $106.46 and its two-hundred day moving average price is $107.76.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. On average, analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of The Descartes Systems Group by 4.3% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 31,500 shares of the technology company’s stock valued at $3,193,000 after purchasing an additional 1,300 shares during the last quarter. Channel Wealth LLC bought a new position in shares of The Descartes Systems Group during the 2nd quarter valued at about $308,000. Harbor Capital Advisors Inc. purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at about $1,230,000. Parallel Advisors LLC raised its position in shares of The Descartes Systems Group by 35.1% during the 2nd quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock valued at $59,000 after buying an additional 152 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of The Descartes Systems Group during the 1st quarter valued at about $14,793,000. Institutional investors own 77.73% of the company’s stock.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its 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; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.