Canaccord Genuity reiterated their buy rating on shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in a research note released on Thursday morning. The brokerage currently has a $28.00 price objective on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of The Descartes Systems Group from a hold rating to a buy rating and set a $28.00 target price for the company in a report on Friday, June 2nd. TD Securities restated a buy rating and issued a $29.00 target price (up from $25.00) on shares of The Descartes Systems Group in a report on Wednesday, May 31st. Morgan Stanley reiterated an equal weight rating and set a $27.00 price objective (up from $25.00) on shares of The Descartes Systems Group in a research note on Thursday, June 1st. ValuEngine upgraded shares of The Descartes Systems Group from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, BMO Capital Markets reiterated a market perform rating and set a $35.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 1st. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $30.33.

The Descartes Systems Group (NASDAQ:DSGX) traded down 1.29% during mid-day trading on Thursday, hitting $26.85. 64,135 shares of the stock traded hands. The firm’s 50-day moving average is $25.35 and its 200-day moving average is $23.71. The Descartes Systems Group has a 12-month low of $20.20 and a 12-month high of $27.55. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 83.91 and a beta of 0.58.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, May 31st. The technology company reported $0.09 earnings per share (EPS) 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 company had revenue of $54.51 million during the quarter, compared to analysts’ expectations of $54.09 million. Equities research analysts expect that The Descartes Systems Group will post $0.42 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in The Descartes Systems Group by 89.6% in the first quarter. US Bancorp DE now owns 4,825 shares of the technology company’s stock valued at $110,000 after buying an additional 2,280 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in The Descartes Systems Group by 20.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock worth $123,000 after buying an additional 860 shares during the last quarter. Legal & General Group Plc boosted its position in The Descartes Systems Group by 6.8% in the second quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock worth $189,000 after buying an additional 495 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in The Descartes Systems Group by 34.6% in the first quarter. Envestnet Asset Management Inc. now owns 10,015 shares of the technology company’s stock worth $229,000 after buying an additional 2,573 shares during the last quarter. Finally, Shell Asset Management Co. boosted its position in The Descartes Systems Group by 0.4% in the first quarter. Shell Asset Management Co. now owns 7,912 shares of the technology company’s stock worth $241,000 after buying an additional 32 shares during the last quarter. Institutional investors own 77.35% of the company’s stock.

The Descartes Systems Group Company Profile

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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