Descartes Systems Group (DSGX) Downgraded by BidaskClub to “Hold”

BidaskClub cut shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research note released on Tuesday morning.

Several other analysts have also issued reports on DSGX. BMO Capital Markets restated a hold rating and issued a $31.00 price target on shares of Descartes Systems Group in a research report on Wednesday, November 29th. Zacks Investment Research lowered shares of Descartes Systems Group from a hold rating to a sell rating in a research report on Tuesday, October 17th. Barclays raised their price target on shares of Descartes Systems Group from $32.00 to $33.00 and gave the stock an overweight rating in a research report on Thursday, November 30th. Royal Bank of Canada raised their price target on shares of Descartes Systems Group from $32.00 to $35.00 and gave the stock an outperform rating in a research report on Wednesday, November 22nd. Finally, Raymond James Financial lowered shares of Descartes Systems Group from an outperform rating to a market perform rating in a research report on Thursday, November 30th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $33.39.

Descartes Systems Group (DSGX) traded up $0.20 during midday trading on Tuesday, reaching $28.10. 43,099 shares of the company’s stock traded hands, compared to its average volume of 61,369. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2,141.98, a price-to-earnings ratio of 82.65 and a beta of 0.51. Descartes Systems Group has a 52 week low of $21.00 and a 52 week high of $31.23.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, November 29th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $62.00 million during the quarter, compared to analyst estimates of $60.01 million. Descartes Systems Group had a return on equity of 5.83% and a net margin of 11.61%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. sell-side analysts forecast that Descartes Systems Group will post 0.37 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Descartes Systems Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock valued at $189,000 after acquiring an additional 495 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of Descartes Systems Group by 4.9% during the 2nd quarter. Suntrust Banks Inc. now owns 14,338 shares of the technology company’s stock valued at $348,000 after acquiring an additional 672 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Descartes Systems Group by 20.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock valued at $123,000 after acquiring an additional 860 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Descartes Systems Group by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 17,253 shares of the technology company’s stock valued at $420,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Descartes Systems Group by 13.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 15,285 shares of the technology company’s stock valued at $418,000 after acquiring an additional 1,829 shares in the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.

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About Descartes Systems Group

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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