Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Target Price at $110.75

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $110.75.

Several research firms have recently weighed in on DSGX. Royal Bank of Canada raised their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Monday. Scotiabank boosted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets raised their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. Finally, Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $88.00 to $125.00 in a research report on Friday, November 15th.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $116.02 on Friday. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $118.49. The business’s fifty day moving average is $108.71 and its 200-day moving average is $101.68. The stock has a market cap of $9.92 billion, a PE ratio of 78.39 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period in the prior year, the business earned $0.32 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. Equities research analysts predict that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently made changes to their positions in DSGX. Franklin Resources Inc. grew its holdings in The Descartes Systems Group by 3.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock valued at $142,693,000 after buying an additional 40,807 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of The Descartes Systems Group by 8.4% during the third quarter. Synovus Financial Corp now owns 15,354 shares of the technology company’s stock worth $1,581,000 after buying an additional 1,190 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $465,000. Barclays PLC grew its stake in shares of The Descartes Systems Group by 2.8% in the third quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after acquiring an additional 270 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in The Descartes Systems Group by 10.7% during the third quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock worth $50,277,000 after acquiring an additional 46,523 shares during the period. 77.73% of the stock is currently owned by 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.