The Descartes Systems Group (NASDAQ:DSGX) Given New $88.00 Price Target at Barclays

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target boosted by analysts at Barclays from $87.00 to $88.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the technology company’s stock. Barclays‘s price target suggests a potential downside of 11.88% from the company’s current price.

DSGX has been the topic of several other research reports. BMO Capital Markets increased their price target on shares of The Descartes Systems Group from $94.00 to $100.00 and gave the stock a “market perform” rating in a report on Thursday, May 30th. Scotiabank increased their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a report on Friday, May 31st. TD Securities increased their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Stephens increased their price target on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, CIBC increased their price target on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus target price of $102.10.

The Descartes Systems Group Price Performance

Shares of DSGX stock traded up $1.11 during mid-day trading on Thursday, hitting $99.86. 39,659 shares of the stock traded hands, compared to its average volume of 155,967. The stock has a market cap of $8.53 billion, a P/E ratio of 71.33 and a beta of 0.98. The stock’s fifty day moving average is $99.13 and its two-hundred day moving average is $94.97. The Descartes Systems Group has a 52-week low of $69.59 and a 52-week high of $104.71.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. As a group, equities analysts forecast that The Descartes Systems Group will post 1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new stake in The Descartes Systems Group in the 4th quarter valued at $27,000. Central Pacific Bank Trust Division acquired a new stake in The Descartes Systems Group in the 1st quarter valued at $28,000. Accent Capital Management LLC acquired a new stake in The Descartes Systems Group in the 4th quarter valued at $32,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in The Descartes Systems Group by 703.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after purchasing an additional 429 shares in the last quarter. Finally, Park Place Capital Corp lifted its holdings in The Descartes Systems Group by 48.5% in the 1st quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

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.