The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $117.92 Consensus Price Target from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been given an average rating of “Moderate Buy” by the fourteen research firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $117.92.

DSGX has been the subject of several recent analyst reports. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Royal Bank of Canada upped their target price 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. TD Securities increased their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Finally, Loop Capital assumed coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective on the stock.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently added to or reduced their stakes in DSGX. National Bank of Canada FI grew its stake in shares of The Descartes Systems Group by 389.8% in the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after buying an additional 556,408 shares during the period. Mackenzie Financial Corp lifted its holdings in The Descartes Systems Group by 4.5% in the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after acquiring an additional 91,301 shares during the last quarter. Envestnet Asset Management Inc. grew its position in The Descartes Systems Group by 53.2% in the second quarter. Envestnet Asset Management Inc. now owns 250,665 shares of the technology company’s stock worth $24,274,000 after acquiring an additional 86,998 shares during the period. Fiera Capital Corp increased its stake in The Descartes Systems Group by 3.3% during the second quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock worth $248,024,000 after acquiring an additional 81,263 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in 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 period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $120.41 on Monday. The firm’s 50 day simple moving average is $115.69 and its 200-day simple moving average is $106.75. The Descartes Systems Group has a 12 month low of $84.12 and a 12 month high of $122.88. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 75.73 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same quarter last year, the business posted $0.31 EPS. Analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

About The Descartes Systems Group

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.