The Descartes Systems Group (NASDAQ:DSGX) Price Target Raised to $100.00

Key Points

• National Bank Financial raised its price target for Descartes Systems Group from $95 to $100 while maintaining an “outperform” rating, implying approximately 25.3% upside from the stock’s $79.80 price.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average target price of $102.71; other targets range from $96 to $125.
• The company matched quarterly EPS expectations at $0.57 and slightly exceeded revenue estimates with $198.12 million, representing 11.8% year-over-year growth. Institutional investors own 77.73% of the shares.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG had its price target lifted by research analysts at National Bank Financial from $95.00 to $100.00 in a report issued on Monday, BayStreet reports. The brokerage presently has an "outperform" rating on the technology company's stock. National Bank Financial's price objective would suggest a potential upside of 25.31% from the stock's current price.

A number of other equities research analysts also recently weighed in on the company. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the company an "outperform" rating in a research report on Friday, September 4th. Loop Capital reiterated a "buy" rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Scotia raised their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the company a "sector outperform" rating in a report on Friday. Scotiabank boosted their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a research report on Friday. Finally, Weiss Ratings raised The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.71.

The Descartes Systems Group Stock Performance

DSGX traded up $3.76 on Monday, reaching $79.80. The company had a trading volume of 464,162 shares, compared to its average volume of 620,101. The Descartes Systems Group has a 52-week low of $62.56 and a 52-week high of $105.24. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 37.30 and a beta of 0.62. The business has a 50 day simple moving average of $75.62 and a 200 day simple moving average of $72.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, hitting analysts' consensus estimates of $0.57. The business had revenue of $198.12 million during the quarter, compared to analysts' expectations of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.75%. The business's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. As a group, equities research analysts predict that The Descartes Systems Group will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of large investors have recently bought and sold shares of DSGX. Clearbridge Investments LLC raised its position in shares of The Descartes Systems Group by 25.2% in the 4th quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company's stock worth $35,402,000 after acquiring an additional 81,354 shares in the last quarter. Norges Bank purchased a new stake in shares of The Descartes Systems Group in the fourth quarter worth $100,405,000. Bank of America Corp DE increased its stake in The Descartes Systems Group by 62.0% during the 1st quarter. Bank of America Corp DE now owns 733,483 shares of the technology company's stock valued at $52,488,000 after purchasing an additional 280,713 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in The Descartes Systems Group in the 1st quarter worth approximately $8,671,000. Finally, BNP Paribas Financial Markets raised its stake in shares of The Descartes Systems Group by 809.0% in the fourth quarter. BNP Paribas Financial Markets now owns 236,003 shares of the technology company's stock worth $20,688,000 after purchasing an additional 210,041 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

About The Descartes Systems Group

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.

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