The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $102.54 Average Price Target from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $102.5385.

A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, July 20th. Raymond James Financial decreased their price target on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Loop Capital reiterated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th.

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. acquired a new stake in The Descartes Systems Group in the 2nd quarter valued at about $11,263,000. Nykredit A S acquired a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $2,319,000. Grandeur Peak Global Advisors LLC acquired a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $6,537,000. Headlands Technologies LLC bought a new stake in shares of The Descartes Systems Group in the 2nd quarter worth approximately $3,684,000. Finally, Moore Capital Management LP bought a new stake in shares of The Descartes Systems Group in the 2nd quarter worth approximately $2,596,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Up 0.3%

Shares of DSGX opened at $78.47 on Tuesday. The firm has a 50-day moving average price of $73.19 and a 200 day moving average price of $71.46. The firm has a market capitalization of $6.72 billion, a PE ratio of 39.23 and a beta of 0.62. The Descartes Systems Group has a 52-week low of $62.56 and a 52-week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The Descartes Systems Group’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. On average, equities analysts expect that The Descartes Systems Group will post 2.37 EPS for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.