The Descartes Systems Group (NASDAQ:DSGX) Raised to "Sector Outperform" at CIBC

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG was upgraded by investment analysts at CIBC from a "neutral" rating to a "sector outperform" rating in a research report issued on Tuesday, MarketBeat reports. The firm currently has a $101.00 price objective on the technology company's stock, up from their previous price objective of $96.50. CIBC's price objective indicates a potential upside of 11.11% from the company's current price.

A number of other research analysts have also recently issued reports on the company. TD Securities boosted their target price on The Descartes Systems Group from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, March 7th. Barclays upped their price objective on The Descartes Systems Group from $71.00 to $75.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 20th. Raymond James upped their price objective on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, March 7th. Wolfe Research raised The Descartes Systems Group from a "peer perform" rating to an "outperform" rating and set a $95.00 price objective for the company in a research report on Wednesday, January 10th. Finally, Stephens upped their price objective on The Descartes Systems Group from $105.00 to $107.00 and gave the stock an "overweight" rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.44.

The Descartes Systems Group Stock Up 4.1 %

DSGX traded up $3.55 during trading on Tuesday, hitting $90.90. The company's stock had a trading volume of 231,763 shares, compared to its average volume of 146,186. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 67.84 and a beta of 0.94. The Descartes Systems Group has a 12 month low of $69.59 and a 12 month high of $94.54. The firm's 50 day moving average price is $89.62 and its two-hundred day moving average price is $83.56.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $146.62 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The firm's quarterly revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts forecast that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DSGX. Citigroup Inc. raised its position in The Descartes Systems Group by 218.0% during the 1st quarter. Citigroup Inc. now owns 3,813 shares of the technology company's stock worth $279,000 after purchasing an additional 2,614 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of The Descartes Systems Group by 17.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,765 shares of the technology company's stock worth $788,000 after acquiring an additional 1,568 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of The Descartes Systems Group by 11.1% in the 1st quarter. Natixis Advisors L.P. now owns 17,167 shares of the technology company's stock worth $1,258,000 after acquiring an additional 1,721 shares in the last quarter. BlackRock Inc. raised its position in shares of The Descartes Systems Group by 6.7% in the 1st quarter. BlackRock Inc. now owns 235,686 shares of the technology company's stock worth $17,266,000 after acquiring an additional 14,735 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of The Descartes Systems Group by 3.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 12,412 shares of the technology company's stock worth $967,000 after acquiring an additional 444 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

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.