21:42:41 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Descartes Systems Group Inc (The)
Symbol DSG
Shares Issued 85,003,711
Close 2023-06-02 C$ 103.39
Market Cap C$ 8,788,533,680
Recent Sedar Documents

Globe says Descartes Systems Group reaffirmed at "buy"

2023-06-02 08:15 ET - In the News

The Globe and Mail reports in its Friday edition that Canaccord Genuity analyst Robert Young continues to rate Descartes Systems Group "buy." The Globe's David Leeder writes that Mr. Young gave his share target a $3 boost to $88 (all figures U.S.). Analysts on average target the shares at $83. Despite Descartes's "mixed macro signals," Mr. Young expects organic growth to remain above long-term historical levels. The Globe notes that several analysts upgraded their target prices following the release of Descartes's earnings report after the bell on Wednesday. Descartes reported revenue of $136.6-million, up 17 per cent year-over-year and above both Mr. Young's $132.5-million estimate and the consensus forecast of $133.1-million. Adjusted earnings before interest, taxes, depreciation and amortization rose 13 per cent to $57.7-million also above expectations of $56.6-million and $57.1-million. Mr. Young says in a note: "We expect the company will continue its strong pace of M&A with last mile, global trade, and e-commerce all areas of focus. Given the company's strong industry knowledge, positive reputation as a buyer and ability to add value with its large customer base, we see Descartes as an advantaged buyer."

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