Scotiabank Forecasts Strong Price Appreciation for The Descartes Systems Group (NASDAQ:DSGX) Stock

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target upped by stock analysts at Scotiabank from $125.00 to $127.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price objective suggests a potential upside of 24.96% from the company’s previous close.

A number of other equities research analysts have also issued reports on DSGX. Royal Bank of Canada dropped their price objective on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Barclays dropped their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. CIBC reduced their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Loop Capital assumed coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. Finally, BMO Capital Markets reduced their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Price Performance

DSGX opened at $101.63 on Wednesday. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 63.92 and a beta of 0.99. The company’s 50 day simple moving average is $110.67 and its two-hundred day simple moving average is $110.20. The Descartes Systems Group has a 1-year low of $87.20 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, equities analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in The Descartes Systems Group by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company’s stock worth $904,000 after buying an additional 438 shares in the last quarter. Mackenzie Financial Corp raised its position in The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after purchasing an additional 2,800,492 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of The Descartes Systems Group by 2.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 15,468 shares of the technology company’s stock worth $1,758,000 after buying an additional 345 shares in the last quarter. Sone Capital Management LLC acquired a new position in shares of The Descartes Systems Group during the fourth quarter worth about $4,754,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of The Descartes Systems Group during the fourth quarter worth approximately $712,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.