01:53 PM EDT, 05/30/2024 (MT Newswires) -- Descartes' first quarter results was in line with consensus, but slightly below RBC expectations as organic growth slowed to 8.5%, below RBC estimate for 10%.

Baseline suggests second quarter results will be above consensus, given acquisitions, notes analyst Paul Treiber, with management commentary implying additional M&A is likely. RBC estimates are largely unchanged, as organic growth is expected to be sustained in the high-single-digit range going forward, above Descartes' 10-year average, along with a strong pace of M&A.

Maintain Outperform, US$114 target.

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