Brokerages expect The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) to post $56.37 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for The Descartes Systems Group’s earnings, with estimates ranging from $55.57 million to $57.94 million. The Descartes Systems Group posted sales of $50.52 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.6%. The firm is expected to announce its next quarterly earnings results on Thursday, September 14th.

On average, analysts expect that The Descartes Systems Group will report full-year sales of $56.37 million for the current year, with estimates ranging from $224.16 million to $232.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $251.35 million per share, with estimates ranging from $247.30 million to $257.78 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow The Descartes Systems Group.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, May 31st. The technology company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The firm had revenue of $54.51 million during the quarter, compared to analysts’ expectations of $54.09 million. The Descartes Systems Group had a net margin of 11.80% and a return on equity of 5.78%.

Several equities research analysts recently weighed in on the company. ValuEngine raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Scotiabank lifted their price objective on The Descartes Systems Group from $24.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. Raymond James Financial, Inc. lifted their price objective on The Descartes Systems Group from $24.50 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, June 1st. Zacks Investment Research raised The Descartes Systems Group from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Thursday, June 8th. Finally, Canaccord Genuity lifted their price objective on The Descartes Systems Group from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, June 1st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The Descartes Systems Group has a consensus rating of “Buy” and a consensus price target of $32.44.

A number of hedge funds and other institutional investors have recently bought and sold shares of DSGX. US Bancorp DE raised its position 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 worth $110,000 after buying an additional 2,280 shares during the last quarter. Envestnet Asset Management Inc. raised its position in The Descartes Systems Group by 39.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,442 shares of the technology company’s stock worth $159,000 after buying an additional 2,099 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in The Descartes Systems Group during the fourth quarter worth $206,000. Shell Asset Management Co. raised 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. Finally, BB&T Corp bought a new position in The Descartes Systems Group during the first quarter worth $254,000. 79.20% of the stock is owned by institutional investors and hedge funds.

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Shares of The Descartes Systems Group (DSGX) traded up 0.20% during midday trading on Friday, hitting $24.65. 29,725 shares of the company traded hands. The stock’s 50-day moving average is $24.14 and its 200 day moving average is $22.54. The stock has a market capitalization of $1.87 billion, a P/E ratio of 77.03 and a beta of 0.55. The Descartes Systems Group has a 12-month low of $18.21 and a 12-month high of $25.45.

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.

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