Equities research analysts predict that The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) will post sales of $55.74 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for The Descartes Systems Group’s earnings, with estimates ranging from $55.57 million to $56.04 million. The Descartes Systems Group posted sales of $50.52 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.3%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, September 6th.

On average, analysts expect that The Descartes Systems Group will report full year sales of $55.74 million for the current year, with estimates ranging from $224.16 million to $226.92 million. For the next year, analysts anticipate that the business will post sales of $249.55 million per share, with estimates ranging from $247.30 million to $252.91 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for The Descartes Systems Group.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, May 31st. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $54.09 million.

Several equities research analysts have recently issued reports on DSGX shares. Zacks Investment Research lowered The Descartes Systems Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Canaccord Genuity raised their price objective on The Descartes Systems Group from $26.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, June 1st. Raymond James Financial, Inc. raised their price objective on The Descartes Systems Group from $24.50 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, June 1st. Scotiabank raised their price objective on The Descartes Systems Group from $24.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, June 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $27.00 price objective (up from $25.00) 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.33.

The Descartes Systems Group (DSGX) opened at 26.80 on Tuesday. The stock has a market capitalization of $2.04 billion, a PE ratio of 83.75 and a beta of 0.58. The Descartes Systems Group has a 1-year low of $20.20 and a 1-year high of $27.55. The stock’s 50 day moving average price is $25.42 and its 200 day moving average price is $23.77.

Large investors have recently modified their holdings of the company. Morgan Stanley raised 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 worth $14,496,000 after buying an additional 348,754 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of 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 in the last quarter. Ameriprise Financial Inc. raised its stake in shares of The Descartes Systems Group by 91.2% in the first quarter. Ameriprise Financial Inc. now owns 179,775 shares of the technology company’s stock worth $4,117,000 after buying an additional 85,750 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of The Descartes Systems Group by 126.6% in the first quarter. UBS Asset Management Americas Inc. now owns 37,611 shares of the technology company’s stock worth $859,000 after buying an additional 21,011 shares in the last quarter. Finally, FMR LLC raised 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 worth $14,611,000 after buying an additional 508,020 shares in the last quarter. 77.35% of the stock is owned by hedge funds and other institutional investors.

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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.

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Earnings History and Estimates for The Descartes Systems Group (NASDAQ:DSGX)

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