Barclays Upgrades The Descartes Systems Group (NASDAQ:DSGX) to “Equal Weight”

Barclays upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from an underweight rating to an equal weight rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has $125.00 target price on the technology company’s stock, up from their prior target price of $88.00.

Several other equities analysts also recently weighed in on DSGX. Scotiabank raised their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $111.41 on Friday. The stock has a market cap of $9.52 billion, a P/E ratio of 75.28 and a beta of 0.97. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $117.24. The firm has a 50-day moving average of $104.91 and a 200 day moving average of $100.11.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The company had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Research analysts expect that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. National Bank of Canada FI raised its position in The Descartes Systems Group by 389.8% in the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after acquiring an additional 556,408 shares during the period. Westfield Capital Management Co. LP bought a new position in The Descartes Systems Group in the 1st quarter worth $47,481,000. Price T Rowe Associates Inc. MD lifted its position in The Descartes Systems Group by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after purchasing an additional 278,796 shares in the last quarter. William Blair Investment Management LLC bought a new stake in The Descartes Systems Group during the second quarter valued at about $20,608,000. Finally, Grandeur Peak Global Advisors LLC purchased a new stake in The Descartes Systems Group in the first quarter worth about $19,264,000. Hedge funds and other 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.