CIBC Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $127.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price decreased by analysts at CIBC from $128.00 to $127.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the technology company’s stock. CIBC’s price objective indicates a potential upside of 28.32% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. TD Securities raised their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. Scotiabank increased their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays cut their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.33.

The Descartes Systems Group Stock Performance

DSGX stock traded down $11.95 during trading on Thursday, hitting $98.97. 721,133 shares of the company traded hands, compared to its average volume of 242,592. The Descartes Systems Group has a 1 year low of $87.20 and a 1 year high of $124.31. The firm has a market capitalization of $8.47 billion, a PE ratio of 62.28 and a beta of 0.99. The company has a 50-day moving average of $114.83 and a 200-day moving average of $110.17.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. Sell-side analysts expect that The Descartes Systems Group will post 1.64 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. increased its position in The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. GeoWealth Management LLC boosted its stake in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after acquiring an additional 132 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at about $43,000. Trust Co. of Vermont acquired a new stake in The Descartes Systems Group during the fourth quarter worth about $54,000. Finally, GAMMA Investing LLC lifted its stake in shares of The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after purchasing an additional 495 shares during the last quarter. Institutional investors 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.