Barclays Issues Pessimistic Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG had its price objective reduced by equities researchers at Barclays from $118.00 to $108.00 in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage presently has an "equal weight" rating on the technology company's stock. Barclays's price objective would suggest a potential upside of 5.62% from the company's current price.

DSGX has been the topic of a number of other reports. Scotiabank upped their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, March 26th. BMO Capital Markets lowered their price target on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research report on Thursday, March 6th. Stephens lowered their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. CIBC lowered their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and an average target price of $123.40.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX traded up $0.65 during trading on Thursday, reaching $102.25. 657,253 shares of the stock were exchanged, compared to its average volume of 218,074. The Descartes Systems Group has a 1-year low of $90.61 and a 1-year high of $124.31. The stock has a fifty day moving average of $106.95 and a two-hundred day moving average of $110.62. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 64.31 and a beta of 0.87.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The firm had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same period in the previous year, the company earned $0.40 earnings per share. The Descartes Systems Group's revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new position in The Descartes Systems Group in the 1st quarter valued at $14,793,000. Ellsworth Advisors LLC grew its stake in The Descartes Systems Group by 7.3% in the 1st quarter. Ellsworth Advisors LLC now owns 6,619 shares of the technology company's stock valued at $667,000 after purchasing an additional 452 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in The Descartes Systems Group by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company's stock valued at $5,507,000 after purchasing an additional 660 shares during the period. United Services Automobile Association bought a new position in The Descartes Systems Group in the 1st quarter valued at $319,000. Finally, Goldman Sachs Group Inc. grew its stake in The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company's stock valued at $38,027,000 after purchasing an additional 98,054 shares during the period. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Company Profile

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.