On Thursday, the research analysts at StockNews.com upgraded their recommendation for Descartes Systems Group (NASDAQ: DSGX) (TSE: DSG) shares, moving them from a “hold” recommendation to a “buy” rating for the company’s stock. This move came after they had previously recommended that investors “hold on” to their shares.
Recent comments made by other research analysts on the stock have been made in various ways, which have all been considered. The price target Barclays has set for shares of The Descartes Systems Group has been reduced from $60.00 to $58.00, and the firm has assigned the stock an “underweight” rating in a research note published on Thursday, December 8. Wolfe Research downgraded its recommendation for The Descartes Systems Group shares on Thursday, November 17, moving them from “outperform” to “peer perform” in a research note published online. BMO Capital Markets stated in a research note published on Thursday, December 8, that they had decreased their target price on shares of The Descartes Systems Group from $74.00 to $71.00. This was done in response to recent market events. Stephens moved The Descartes Systems Group from a rating of “underweight” to a rating of “overweight” in a research note published on Thursday, December 8. Four financial experts have given the company a recommendation to purchase it; three analysts have suggested that investors hold onto their shares; and one analyst has suggested that investors sell their shares. According to information from Bloomberg.com, the stock is currently rated as having a status of “Hold,” and the consensus price objective for the stock is $75.56. The price the market expects the stock to reach is also $75.56.
For $71.26, trading in DSGX was initiated on Thursday of this week. The moving averages for the previous 50 days at the company are $69.51, and the moving averages for the previous 200 days are $68.29. During the previous year, the price of Descartes Systems Group fluctuated between $56.19 and $79.08, with a low point of $56.19 and a high point of $79.08. Accordingly, the company’s price-to-earnings ratio is 6.04 billion, its beta is 66.60, and its market capitalization is 1.01 billion.
A report on Descartes Systems Group’s (NASDAQ: DSGX) and Descartes Securities Group’s (TSE: DSG) performance was made available to the public on December 7. The technology company announced earnings of $0.31 per share for the quarter, which is $0.04 higher than the consensus estimate of $0.27 per share among market experts. The Descartes Systems Group achieved a return on equity of 8.94%, while the company’s net margin was 19.37%. The revenue for the quarter came in at $121.47 million, which is significantly less than the industry analysts’ prediction of $123.10 million for the quarter’s total revenue. This year, the Descartes Systems Group is anticipated to bring in revenue equal to 1.13 cents per share, as stated by the projections of analysts who follow the industry.
Recent months have seen several institutional investors make adjustments to the way they are currently invested in the company’s stock. The South Dakota Sageworth Trust Company increased the proportion of The Descartes Systems Group in which it was invested by 14.6% during the second quarter. The South Dakota-based Sageworth Trust Co. now possesses 450 technology company stock shares, with a market value of $28,000. This is because the corporation purchased an additional 263 shares during the most recent quarter of the fiscal year. Captrust Financial Advisors increased the proportion of The Descartes Systems Group’s stock that it owns by 270.8% during the second quarter of the fiscal year. Captrust Financial Advisors increased its holdings in the stock of the technology business during the most recent quarter by purchasing an additional 325 shares, bringing the total number of shares purchased to 445 at a value of $28,000. This brought the total number of shares purchased to $28,000. During the third quarter, shares of Descartes Systems Group valued at approximately $30,000 were added to the investment portfolio that Fred Alger Management LLC oversees. During the second quarter of the current fiscal year, First Horizon Advisors, Inc. increased the percentage of Descartes Systems Group stock owned by an astounding 8,814.3%. First Horizon Advisors Inc. currently possesses 624 technology company stock shares, which have a value of $38,000. The business was acquired during the most recent fiscal quarter, bringing the total number of shares it owned to 624. And finally, during the second quarter of the year, EverSource Wealth Advisors LLC purchased The Descartes Systems Group shares for $53,000. Institutional investors such as hedge funds and other types of institutional investors currently own 80.35 percent of the company’s shares.
Descartes Systems Group Inc. provides cloud-based supply chain management and business process solutions to enhance the effectiveness, productivity, and safety of businesses worldwide that depend highly on logistics. Its Logistics Technology platform provides a collection of web and wireless logistics management applications that are modular, cloud-based, and interoperable. These applications bring together a community of parties interested in logistics.