The Descartes Systems Group (NASDAQ:DSGX) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a report published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $115.00 price objective on the technology company’s stock.

A number of other equities analysts have also recently commented on the company. Barclays lifted their price target on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an underweight rating in a research note on Thursday. Stephens upped their price target on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the company an overweight rating in a report on Thursday, May 30th. Raymond James raised their price target on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the stock a market perform rating in a report on Friday, May 31st. Scotiabank upped their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a sector outperform rating in a research note on Friday, May 31st. Finally, Redburn Atlantic started coverage on The Descartes Systems Group in a research note on Tuesday, May 14th. They issued a neutral rating and a $90.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $103.00.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $94.62 on Thursday. The Descartes Systems Group has a 52-week low of $69.59 and a 52-week high of $104.71. The company has a fifty day moving average of $99.05 and a 200-day moving average of $95.09. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 67.59 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 20.62% and a return on equity of 9.96%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. On average, equities research analysts forecast that The Descartes Systems Group will post 1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds have recently bought and sold shares of DSGX. Truist Financial Corp boosted its position in shares of The Descartes Systems Group by 13.0% in the 2nd quarter. Truist Financial Corp now owns 8,458 shares of the technology company’s stock worth $819,000 after purchasing an additional 975 shares in the last quarter. Fiera Capital Corp boosted its holdings in The Descartes Systems Group by 3.3% in the second quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock worth $248,024,000 after acquiring an additional 81,263 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of The Descartes Systems Group by 28.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after acquiring an additional 279 shares during the last quarter. Creative Planning increased its holdings in shares of The Descartes Systems Group by 70.5% during the second quarter. Creative Planning now owns 12,762 shares of the technology company’s stock valued at $1,236,000 after acquiring an additional 5,275 shares in the last quarter. Finally, Ascent Group LLC purchased a new position in shares of The Descartes Systems Group in the 2nd quarter worth about $275,000. Institutional investors own 77.73% of the company’s stock.

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.