The Descartes Systems Group (NASDAQ:DSGX) Price Target Raised to $90.00

Key Points

• BMO Capital Markets raised its price target for The Descartes Systems Group from $82 to $90 while maintaining a “market perform” rating, implying 6.11% upside from the prior close.
• Analyst sentiment remains positive overall, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $100.33.
• Descartes reported quarterly EPS of $0.57, in line with estimates, while revenue of $198.12 million exceeded expectations and rose 11.8% year over year.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG had its price objective hoisted by equities research analysts at BMO Capital Markets from $82.00 to $90.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "market perform" rating on the technology company's stock. BMO Capital Markets' target price points to a potential upside of 6.11% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada set a $125.00 target price on shares of The Descartes Systems Group and gave the company an "outperform" rating in a research note on Friday, September 4th. Scotia boosted their target price on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a report on Friday, September 11th. Weiss Ratings raised shares of The Descartes Systems Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, September 21st. Loop Capital reiterated a "buy" rating and issued a $96.00 price target on shares of The Descartes Systems Group in a research note on Thursday, October 8th. Finally, Scotiabank increased their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a "sector outperform" rating in a research note on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.33.

The Descartes Systems Group Stock Performance

DSGX traded up $1.15 on Tuesday, hitting $84.82. 248,366 shares of the company were exchanged, compared to its average volume of 614,899. The Descartes Systems Group has a 12 month low of $62.56 and a 12 month high of $98.25. The company has a market cap of $7.26 billion, a PE ratio of 39.56 and a beta of 0.65. The stock's fifty day moving average is $78.75 and its 200-day moving average is $74.10.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts' consensus estimates of $0.57. The firm had revenue of $198.12 million during the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The business's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. As a group, equities research analysts expect that The Descartes Systems Group will post 2.37 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its stake in shares of The Descartes Systems Group by 9.6% during the third quarter. Versant Capital Management Inc now owns 1,467 shares of the technology company's stock worth $119,000 after buying an additional 129 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of The Descartes Systems Group by 124.7% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company's stock valued at $54,000 after acquiring an additional 419 shares in the last quarter. Value Partners Investments Inc. boosted its holdings in shares of The Descartes Systems Group by 6.7% during the 1st quarter. Value Partners Investments Inc. now owns 6,758 shares of the technology company's stock valued at $483,000 after acquiring an additional 423 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at $33,000. 77.73% of the stock is owned by institutional investors and hedge funds.

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 solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company's products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.

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