Descartes Systems Group (NASDAQ:DSGX) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a strong sell rating to a sell rating in a research note published on Thursday morning, BidAskClub reports.

DSGX has been the topic of several other research reports. Zacks Investment Research raised Descartes Systems Group from a sell rating to a hold rating in a research report on Wednesday. BMO Capital Markets reissued a market perform rating and issued a $43.00 price objective on shares of Descartes Systems Group in a research report on Thursday, May 30th. They noted that the move was a valuation call. ValuEngine cut Descartes Systems Group from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Raymond James boosted their price objective on Descartes Systems Group from $33.00 to $36.00 and gave the stock a market perform rating in a research report on Thursday, May 30th. Finally, Haywood Securities set a $44.00 price objective on Descartes Systems Group and gave the stock a buy rating in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Descartes Systems Group has an average rating of Hold and an average target price of $42.88.

DSGX stock opened at $35.02 on Thursday. The stock’s fifty day simple moving average is $36.08 and its two-hundred day simple moving average is $36.85. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.46. Descartes Systems Group has a 1-year low of $25.19 and a 1-year high of $41.60. The stock has a market cap of $2.99 billion, a P/E ratio of 88.93 and a beta of 0.67.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). Descartes Systems Group had a return on equity of 5.96% and a net margin of 11.05%. The business had revenue of $78.00 million during the quarter, compared to analysts’ expectations of $78.60 million. During the same period in the prior year, the firm posted $0.09 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, analysts forecast that Descartes Systems Group will post 0.35 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of DSGX. Primecap Management Co. CA raised its stake in shares of Descartes Systems Group by 63.4% in the second quarter. Primecap Management Co. CA now owns 7,211,500 shares of the technology company’s stock valued at $266,465,000 after buying an additional 2,798,500 shares during the period. Invesco Ltd. bought a new stake in shares of Descartes Systems Group in the second quarter valued at $64,199,000. Price T Rowe Associates Inc. MD raised its stake in shares of Descartes Systems Group by 14.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,402,856 shares of the technology company’s stock valued at $495,393,000 after buying an additional 1,697,992 shares during the period. Riverbridge Partners LLC bought a new stake in shares of Descartes Systems Group in the second quarter valued at $26,018,000. Finally, Echo Street Capital Management LLC raised its stake in shares of Descartes Systems Group by 152.7% in the second quarter. Echo Street Capital Management LLC now owns 1,041,372 shares of the technology company’s stock valued at $38,528,000 after buying an additional 629,283 shares during the period. Hedge funds and other institutional investors own 74.79% of the company’s stock.

Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

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Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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