National Bank Financial Issues Positive Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target lifted by analysts at National Bank Financial from $95.00 to $100.00 in a note issued to investors on Monday, BayStreet reports. The firm currently has an “outperform” rating on the technology company’s stock. National Bank Financial’s price objective would indicate a potential upside of 25.31% from the company’s current price.

Several other research analysts also recently commented on DSGX. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Raymond James Financial cut their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Friday, September 4th. Canadian Imperial Bank of Commerce lifted their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. Finally, Scotia lifted their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $102.71.

The Descartes Systems Group Stock Performance

Shares of DSGX traded up $3.76 during mid-day trading on Monday, reaching $79.80. The stock had a trading volume of 464,162 shares, compared to its average volume of 620,101. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 37.30 and a beta of 0.62. The Descartes Systems Group has a 12 month low of $62.56 and a 12 month high of $105.24. The business has a fifty day moving average of $75.62 and a 200 day moving average of $72.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $198.12 million during the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.75%. The Descartes Systems Group’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. On average, research analysts forecast that The Descartes Systems Group will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently modified their holdings of DSGX. Jupiter Topco LLC purchased a new position in shares of The Descartes Systems Group in the second quarter worth $181,742,000. The Manufacturers Life Insurance Company purchased a new stake in shares of The Descartes Systems Group in the second quarter worth about $141,403,000. Wellington Management Group LLP boosted its position in The Descartes Systems Group by 640.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock worth $94,402,000 after purchasing an additional 1,179,345 shares in the last quarter. Norges Bank purchased a new stake in The Descartes Systems Group during the fourth quarter worth $100,405,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at about $58,755,000. 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 is a Canadian technology company that provides cloud-based logistics and supply chain management software. Its platform helps businesses manage the movement of goods, shipments, vehicles and trade-related information across complex supply chains.

The company’s offerings include transportation management, route planning and optimization, shipment tracking, telematics, freight matching, customs and regulatory compliance, logistics messaging, and electronic connectivity among shippers, carriers, brokers, manufacturers and other supply chain participants.