Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Price Target at $122.18

Key Points

• The Descartes Systems Group Inc. has received a consensus recommendation of "Moderate Buy" from twelve analysts, with an average target price of $122.18.
• Recent adjustments by major institutions include NBC Securities and Cullen Frost Bankers, reflecting growing confidence in the company, which now has 77.73% of its shares held by institutional investors.
• Despite missing earnings expectations in its last report, the company showed an 11.5% year-over-year revenue increase, underscoring its growth potential in logistics and supply chain management solutions.

The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG has received a consensus rating of "Moderate Buy" from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $123.60.

A number of brokerages have weighed in on DSGX. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Barclays lowered their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th. Royal Bank Of Canada lowered their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley initiated coverage on The Descartes Systems Group in a research report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 target price on the stock.

The Descartes Systems Group Price Performance

Shares of DSGX traded up $1.79 during mid-day trading on Tuesday, reaching $108.01. The company had a trading volume of 566,873 shares, compared to its average volume of 361,800. The Descartes Systems Group has a twelve month low of $92.00 and a twelve month high of $124.31. The company's 50-day moving average is $102.33 and its 200-day moving average is $104.24. The company has a market capitalization of $9.28 billion, a P/E ratio of 63.92 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $178.98 million during the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a return on equity of 10.60% and a net margin of 21.64%.The firm's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, equities analysts expect that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after purchasing an additional 2,800,492 shares during the period. Norges Bank acquired a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $117,678,000. Price T Rowe Associates Inc. MD lifted its stake in shares of The Descartes Systems Group by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock valued at $719,370,000 after purchasing an additional 936,718 shares during the period. Temasek Holdings Private Ltd acquired a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $91,155,000. Finally, CIBC Asset Management Inc lifted its stake in shares of The Descartes Systems Group by 275.4% in the 2nd quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company's stock valued at $85,085,000 after purchasing an additional 613,009 shares during the period. 77.73% of the stock is currently 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.