The Descartes Systems Group (NASDAQ:DSGX) Price Target Increased to $88.00 by Analysts at Barclays

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target upped by Barclays from $87.00 to $88.00 in a report released on Thursday, Benzinga reports. They currently have an underweight rating on the technology company’s stock.

A number of other equities analysts have also weighed in on the stock. BMO Capital Markets boosted their price target on shares of The Descartes Systems Group from $94.00 to $100.00 and gave the stock a market perform rating in a research report on Thursday, May 30th. Redburn Atlantic assumed coverage on The Descartes Systems Group in a research report on Tuesday, May 14th. They issued a neutral rating and a $90.00 price target for the company. Raymond James lifted their price objective on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a market perform rating in a research report on Friday, May 31st. Royal Bank of Canada upped their target price on The Descartes Systems Group from $110.00 to $115.00 and gave the company an outperform rating in a report on Friday, May 24th. Finally, Stephens lifted their price target on The Descartes Systems Group from $107.00 to $110.00 and gave the stock an overweight rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, The Descartes Systems Group currently has an average rating of Moderate Buy and an average price target of $103.00.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $95.33 on Thursday. The stock’s 50 day simple moving average is $99.09 and its 200-day simple moving average is $94.97. The company has a market cap of $8.14 billion, a PE ratio of 68.09 and a beta of 0.98. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $104.71.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The firm had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities research analysts anticipate that The Descartes Systems Group will post 1.7 EPS for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. acquired a new stake in shares of The Descartes Systems Group during the fourth quarter valued at about $27,000. Central Pacific Bank Trust Division acquired a new stake in The Descartes Systems Group in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC purchased a new stake in The Descartes Systems Group in the fourth quarter valued at approximately $32,000. Whittier Trust Co. of Nevada Inc. lifted its stake in The Descartes Systems Group by 703.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after purchasing an additional 429 shares in the last quarter. Finally, Park Place Capital Corp boosted its position in shares of The Descartes Systems Group by 48.5% during the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock worth $61,000 after buying an additional 219 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.