The Descartes Systems Group (NASDAQ:DSGX) Upgraded by Barclays to "Equal Weight" Rating

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG was upgraded by equities research analysts at Barclays from an "underweight" rating to an "equal weight" rating in a research report issued on Friday, MarketBeat reports. The brokerage presently has a $125.00 price target on the technology company's stock, up from their previous price target of $88.00. Barclays's price objective suggests a potential upside of 12.20% from the company's previous close.

A number of other research analysts have also recently weighed in on the stock. Scotiabank boosted their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a "sector outperform" rating in a research report on Thursday, October 24th. BMO Capital Markets boosted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a "market perform" rating in a research report on Thursday, September 5th. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. National Bank Financial upgraded shares of The Descartes Systems Group to a "strong-buy" rating in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a "buy" rating in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.25.

The Descartes Systems Group Stock Down 0.5 %

The Descartes Systems Group stock traded down $0.56 during mid-day trading on Friday, reaching $111.41. 230,070 shares of the company's stock traded hands, compared to its average volume of 152,923. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 75.66 and a beta of 0.97. The stock has a 50 day moving average of $104.24 and a two-hundred day moving average of $99.82. The Descartes Systems Group has a 12-month low of $79.21 and a 12-month high of $117.24.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $163.43 million for the quarter, compared to analysts' expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The Descartes Systems Group's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. As a group, sell-side analysts forecast that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DSGX. US Bancorp DE grew its holdings in The Descartes Systems Group by 5.3% during the 1st quarter. US Bancorp DE now owns 6,615 shares of the technology company's stock worth $605,000 after acquiring an additional 331 shares in the last quarter. Nicolet Advisory Services LLC grew its holdings in The Descartes Systems Group by 43.1% during the 1st quarter. Nicolet Advisory Services LLC now owns 3,863 shares of the technology company's stock worth $349,000 after acquiring an additional 1,164 shares in the last quarter. Intech Investment Management LLC bought a new position in The Descartes Systems Group during the 1st quarter worth about $915,000. Westfield Capital Management Co. LP bought a new position in The Descartes Systems Group during the 1st quarter worth about $47,481,000. Finally, Vanguard Group Inc. grew its holdings in The Descartes Systems Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company's stock worth $287,188,000 after acquiring an additional 40,897 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Company Profile

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.