The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Free Report) (TSE:DSG) saw a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 529,300 shares, a drop of 10.8% from the July 31st total of 593,700 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 143,000 shares, the days-to-cover ratio is currently 3.7 days.
Analysts Set New Price Targets
DSGX has been the topic of several analyst reports. Raymond James lifted their target price on The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research note on Friday, May 31st. TD Securities lifted their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Redburn Atlantic started coverage on The Descartes Systems Group in a research note on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 price target on the stock. Barclays lifted their price target on The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a research note on Friday, May 17th. Finally, BMO Capital Markets lifted their price target on The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.00.
Check Out Our Latest Research Report on The Descartes Systems Group
Hedge Funds Weigh In On The Descartes Systems Group
The Descartes Systems Group Stock Performance
DSGX stock traded down $1.25 during midday trading on Tuesday, hitting $99.64. 110,639 shares of the stock were exchanged, compared to its average volume of 156,566. The stock’s 50-day moving average price is $99.06 and its 200-day moving average price is $94.94. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 71.17 and a beta of 0.98. The Descartes Systems Group has a fifty-two week low of $69.59 and a fifty-two week high of $104.71.
About The Descartes Systems Group
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.
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