The Descartes Systems Group (NASDAQ:DSGX) Price Target Cut to $115.00 by Analysts at Scotiabank

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective lowered by research analysts at Scotiabank from $127.00 to $115.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the technology company’s stock. Scotiabank’s price objective points to a potential upside of 21.32% from the stock’s current price.

A number of other analysts also recently commented on DSGX. TD Securities initiated coverage on The Descartes Systems Group in a research report on Friday, October 3rd. They issued a “buy” rating and a $121.00 price objective for the company. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday. TD Cowen restated a “buy” rating and issued a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday. Finally, Morgan Stanley dropped their price target on shares of The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $117.55.

The Descartes Systems Group Stock Performance

Shares of DSGX traded up $11.83 during trading hours on Thursday, hitting $94.79. 1,127,659 shares of the company were exchanged, compared to its average volume of 413,032. The company has a market cap of $8.15 billion, a PE ratio of 56.02 and a beta of 0.74. The firm’s 50 day moving average is $89.32 and its 200-day moving average is $98.77. The Descartes Systems Group has a 52 week low of $78.88 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The firm had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. During the same quarter in the previous year, the business earned $0.42 EPS. The business’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Grandeur Peak Global Advisors LLC increased its stake in shares of The Descartes Systems Group by 41.2% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock valued at $37,720,000 after buying an additional 108,250 shares during the period. American Century Companies Inc. boosted its holdings in The Descartes Systems Group by 5.9% in the first quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock valued at $22,543,000 after acquiring an additional 12,571 shares during the last quarter. Cidel Asset Management Inc. increased its position in The Descartes Systems Group by 31.9% in the second quarter. Cidel Asset Management Inc. now owns 142,322 shares of the technology company’s stock worth $14,428,000 after purchasing an additional 34,411 shares during the period. AGF Management Ltd. raised its holdings in The Descartes Systems Group by 26.3% during the 2nd quarter. AGF Management Ltd. now owns 139,529 shares of the technology company’s stock worth $14,174,000 after purchasing an additional 29,012 shares during the last quarter. Finally, Aviva PLC lifted its position in The Descartes Systems Group by 8.5% during the 2nd quarter. Aviva PLC now owns 60,356 shares of the technology company’s stock valued at $6,130,000 after purchasing an additional 4,709 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

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.