01:47 PM EDT, 06/05/2025 (MT Newswires) -- RBC has lowered its target on Descartes by US$4, to US$126, and kept its Outperform rating.

Descartes' first-quarter was mixed, with revenue and organic growth below RBC/consensus, while adj. EBITDA was in line with consensus, analyst Paul Treiber writes.

For the second quarter, Descartes disclosed global trade volumes materially slowed in May. Given the slowdown, the company implemented a 7% RIF and provided a second-quarter baseline that was below expectations.

"Maintain Outperform, as Descartes' M&A model is counter-cyclical and capital deployed may increase in this environment."

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