The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $122.18 Average Price Target from Analysts

Key Points

• The Descartes Systems Group Inc. (NASDAQ:DSGX) has received an average recommendation of "Moderate Buy" from analysts, with an average 12-month price target of $122.18.
• The company's stock is currently down 1.3%, trading at $102.46, with a 52-week low of $92.00 and a high of $124.31.
• Institutional investors own approximately 77.73% of the stock, indicating strong interest and investment from large financial entities.

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG have earned a consensus rating of "Moderate Buy" from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $122.1818.

A number of equities research analysts have recently weighed in on DSGX shares. Barclays cut their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, June 5th. Morgan Stanley assumed coverage on The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective on the stock. Royal Bank Of Canada cut their price objective on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, June 5th. Finally, Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd.

The Descartes Systems Group Stock Down 0.1%

Shares of DSGX traded down $0.14 during midday trading on Friday, reaching $101.09. 53,003 shares of the stock were exchanged, compared to its average volume of 332,285. The Descartes Systems Group has a 12-month low of $92.00 and a 12-month high of $124.31. The firm has a 50 day simple moving average of $103.48 and a 200-day simple moving average of $106.42. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 60.90 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly 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 10.53% and a net margin of 21.67%. The firm had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. During the same period last year, the business earned $0.40 earnings per share. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of The Descartes Systems Group

A number of institutional investors and hedge funds have recently modified their holdings of DSGX. Commonwealth Equity Services LLC bought a new stake in shares of The Descartes Systems Group during the fourth quarter valued at approximately $207,000. LPL Financial LLC increased its position in shares of The Descartes Systems Group by 34.1% during the fourth quarter. LPL Financial LLC now owns 21,375 shares of the technology company's stock valued at $2,428,000 after purchasing an additional 5,435 shares during the period. JPMorgan Chase & Co. increased its position in shares of The Descartes Systems Group by 100.2% during the fourth quarter. JPMorgan Chase & Co. now owns 126,334 shares of the technology company's stock valued at $14,352,000 after purchasing an additional 63,236 shares during the period. Wellington Management Group LLP boosted its stake in The Descartes Systems Group by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company's stock valued at $904,000 after buying an additional 438 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in The Descartes Systems Group by 23.0% in the 4th quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock valued at $67,934,000 after buying an additional 110,329 shares in the last quarter. 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.