Canaccord Genuity Maintains a 'Buy' on Descartes (DSGX); User Conference Takeaway: Buyers Cautiously Optimistic
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Price: $80.43 -0.26%
Rating Summary:
11 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 64
Rating Summary:
11 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 64
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Canaccord Genuity maintains a 'Buy' on Descartes (NASDAQ: DSGX) price target of $10.00.
Canaccord analyst, Richard Davis, said, "Conversations at Descartes’ User Conference strengthened our view that the company has reached a tipping point in terms of mind share, and soon market share. Financially, this means upside bias to our estimated EBITDA/share forecasts. For the stock, with a few more solid quarters, there is every reason to expect that DSGX will close the valuation gap that exists between it and small cap SaaS stocks like SPS Commerce and SciQuest. If so, DSGX shares could see $10 within a year."
For an analyst ratings summary and ratings history on Descartes click here. For more ratings news on Descartes click here.
Shares of Descartes closed at $7.15 yesterday.
Canaccord analyst, Richard Davis, said, "Conversations at Descartes’ User Conference strengthened our view that the company has reached a tipping point in terms of mind share, and soon market share. Financially, this means upside bias to our estimated EBITDA/share forecasts. For the stock, with a few more solid quarters, there is every reason to expect that DSGX will close the valuation gap that exists between it and small cap SaaS stocks like SPS Commerce and SciQuest. If so, DSGX shares could see $10 within a year."
For an analyst ratings summary and ratings history on Descartes click here. For more ratings news on Descartes click here.
Shares of Descartes closed at $7.15 yesterday.
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