Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received an average recommendation of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $33.00.

DSGX has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Thursday, June 8th. TD Securities reaffirmed a “buy” rating and set a $29.00 target price (up previously from $25.00) on shares of The Descartes Systems Group in a report on Wednesday, May 31st. Canaccord Genuity reaffirmed a “buy” rating and set a $26.00 target price on shares of The Descartes Systems Group in a report on Thursday, May 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $27.00 target price (up previously from $25.00) on shares of The Descartes Systems Group in a report on Thursday, June 1st. Finally, ValuEngine raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd.

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The Descartes Systems Group (DSGX) traded up 0.19% during midday trading on Friday, reaching $26.45. The company had a trading volume of 79,727 shares. The firm’s 50-day moving average price is $24.65 and its 200 day moving average price is $23.31. The Descartes Systems Group has a 12 month low of $19.75 and a 12 month high of $26.50. The firm has a market capitalization of $2.01 billion, a PE ratio of 82.66 and a beta of 0.58.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, May 31st. The technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by $0.01. The Descartes Systems Group had a net margin of 11.80% and a return on equity of 5.78%. The business had revenue of $54.51 million for the quarter, compared to analyst estimates of $54.09 million. Equities analysts anticipate that The Descartes Systems Group will post $0.42 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Conestoga Capital Advisors LLC increased its stake in shares of The Descartes Systems Group by 89.6% in the first quarter. Conestoga Capital Advisors LLC now owns 1,596,840 shares of the technology company’s stock valued at $36,568,000 after buying an additional 754,403 shares during the period. Mawer Investment Management Ltd. increased its stake in shares of The Descartes Systems Group by 24.8% in the first quarter. Mawer Investment Management Ltd. now owns 3,712,275 shares of the technology company’s stock valued at $150,755,000 after buying an additional 737,395 shares during the period. Norges Bank bought a new stake in shares of The Descartes Systems Group during the fourth quarter valued at about $11,105,000. FMR LLC increased its stake in shares of The Descartes Systems Group by 391.7% in the first quarter. FMR LLC now owns 637,710 shares of the technology company’s stock valued at $14,611,000 after buying an additional 508,020 shares during the period. Finally, Morgan Stanley increased its stake in shares of The Descartes Systems Group by 122.7% in the first quarter. Morgan Stanley now owns 633,028 shares of the technology company’s stock valued at $14,496,000 after buying an additional 348,754 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

About The 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. The Company’s 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 The Descartes Systems Group (NASDAQ:DSGX)

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