Descartes Systems (TSX:DSG) this morning reported its Q3, 2013 results. The company earned $3.11-million on revenue of $32.7-million which was up 15% from the same period a year prior.
CEO Art Mesher offered a backdrop to the results.
“We have a culture of serving customers and working together as one learning team,” he said. “Our collaborative approach and unbridled focus on helping customers achieve results has driven our own superior operating performance.”
Cantor Fitzgerald analyst Tom Liston, who points out that this was yet another record quarter for Descartes in terms of revenue, EBITDA and baseline metrics, says Descartes is the single name Canadian tech investors should be focusing on. He says shares of Descartes have big upside because the company is a “highly strategic vendor to many of the world’s best companies”, and is continuing to win new customers. In a research update to clients this morning, Liston maintained his TOP PICK rating on Descartes and raised his price target by $.50 to $11.
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Liston says his bullish stance on his favourite stock was reinforced when he attended Descartes’ user conference earlier this month in Ft. Lauderdale, Florida. The Cantor Fitzgerald analyst said, in talking to recently added Descartes clients, many told him their return on investment was already ahead of their internal plans. And Liston says a majority of existing customers will be looking to expand their relationship with the Waterloo firm.