03:31 PM EDT, 09/05/2024 (MT Newswires) -- Descartes Systems ( DSGX ) is maintaining above-average organic growth despite macro volatility and is expected to continue investing in acquisitions, RBC Capital Markets said Wednesday in a report.

Descartes on Wednesday posted "another unusually messy, but still healthy quarter" with Q2 topping the market consensus and earnings per share "slightly below" RBC's estimates, according to the report.

Q3 results are expected to exceed consensus with $166 million in revenue and $73 million in adjusted EBITDA, boosted by the BoxTop Technologies acquisition and stronger organic growth, RBC said.

The logistics technology company is "well positioned to sustain a strong pace of acquisitions," RBC said.

Also, "management believes record US ocean imports may drive a rebound in domestic truck volumes, which may help lift organic growth, in our view," RBC said.

RBC maintained an outperform rating on Descartes with a price target of $115.

Descartes shares fell 3.2% in recent trading Thursday.

Price: 95.63, Change: -3.12, Percent Change: -3.16