The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $116.15.

DSGX has been the topic of several recent analyst reports. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. Loop Capital initiated coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $88.00 to $125.00 in a research report on Friday, November 15th.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $115.73 on Thursday. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $122.88. The business’s 50-day moving average is $113.25 and its 200-day moving average is $104.06. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 72.79 and a beta of 0.98.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its holdings in shares of The Descartes Systems Group by 12.1% in the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after purchasing an additional 72,501 shares during the last quarter. DGS Capital Management LLC purchased a new stake in The Descartes Systems Group in the 3rd quarter valued at about $203,000. Franklin Resources Inc. lifted its position in shares of The Descartes Systems Group by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after buying an additional 40,807 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of The Descartes Systems Group by 8.4% in the 3rd 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. Finally, Sanctuary Advisors LLC bought a new position in shares of The Descartes Systems Group in the third quarter valued at approximately $465,000. 77.73% of the stock is 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.