Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Target Price at $123.40

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Get Free Report) TSE: DSG have been assigned an average recommendation of "Moderate Buy" from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $122.18.

Several research firms recently issued reports on DSGX. Morgan Stanley began coverage on shares of The Descartes Systems Group in a report on Monday. They set an "equal weight" rating and a $110.00 price target for the company. Barclays cut their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, June 5th. Scotiabank increased their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Stephens cut their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Royal Bank Of Canada lowered their target price on shares of 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.

Institutional Trading of The Descartes Systems Group

Several large investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in The Descartes Systems Group in the 4th quarter valued at about $19,392,000. Amundi boosted its position in The Descartes Systems Group by 21.4% during the fourth quarter. Amundi now owns 55,042 shares of the technology company's stock worth $6,228,000 after acquiring an additional 9,684 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in The Descartes Systems Group by 14.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock worth $96,000 after acquiring an additional 108 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in The Descartes Systems Group during the fourth quarter worth approximately $207,000. Finally, Natixis Advisors LLC boosted its position in The Descartes Systems Group by 1.3% during the fourth quarter. Natixis Advisors LLC now owns 71,878 shares of the technology company's stock worth $8,165,000 after acquiring an additional 904 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

NASDAQ DSGX traded up $0.25 during trading hours on Monday, hitting $102.86. The company had a trading volume of 34,518 shares, compared to its average volume of 248,232. The Descartes Systems Group has a 1-year low of $90.61 and a 1-year high of $124.31. The company has a market cap of $8.82 billion, a PE ratio of 62.04 and a beta of 0.82. The business has a 50 day moving average of $106.46 and a 200-day moving average of $107.76.

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 (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company's revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. Sell-side analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

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.