Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Price Target at $114.20

by · The Markets Daily

The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Free Report) (TSE:DSG) has been assigned a consensus rating of “Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $114.20.

Several research firms have commented on DSGX. Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Royal Bank Of Canada set a $126.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, December 1st. Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $106.00 to $105.00 in a research note on Monday, January 12th. TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Morgan Stanley upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a report on Thursday, January 15th.

Read Our Latest Stock Analysis on The Descartes Systems Group

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $67.81 on Tuesday. The stock has a 50-day simple moving average of $78.33 and a 200 day simple moving average of $88.40. The stock has a market capitalization of $5.83 billion, a P/E ratio of 38.31 and a beta of 0.75. The Descartes Systems Group has a 52 week low of $62.56 and a 52 week high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The company had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $0.42 earnings per share. Research analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DSGX. Teacher Retirement System of Texas bought a new stake in The Descartes Systems Group during the 3rd quarter worth approximately $8,528,000. Y Intercept Hong Kong Ltd acquired a new position in shares of The Descartes Systems Group during the third quarter worth $2,460,000. Grandeur Peak Global Advisors LLC lifted its holdings in shares of The Descartes Systems Group by 41.2% during the second quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock worth $37,720,000 after purchasing an additional 108,250 shares during the period. CIBC Asset Management Inc grew its stake in shares of The Descartes Systems Group by 15.3% in the third quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock worth $91,369,000 after purchasing an additional 127,762 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in The Descartes Systems Group in the third quarter valued at $10,031,000. 77.73% of the stock is owned by institutional investors and hedge funds.

About The Descartes Systems Group

(Get Free Report)

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.

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