The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $108.64 Consensus Target Price from Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $108.6364.

A number of equities research analysts have recently weighed in on DSGX shares. Scotiabank cut their price target on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. Canaccord Genuity Group decreased their price objective on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Royal Bank Of Canada set a $126.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a research report on Thursday, December 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in The Descartes Systems Group during the 3rd quarter valued at about $27,000. Mather Group LLC. acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter worth approximately $28,000. Danske Bank A S bought a new position in shares of The Descartes Systems Group in the third quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC bought a new position in shares of The Descartes Systems Group in the third quarter valued at approximately $40,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of The Descartes Systems Group by 267.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after acquiring an additional 401 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $69.62 on Friday. The Descartes Systems Group has a one year low of $62.56 and a one year high of $117.35. The company has a 50-day simple moving average of $71.21 and a 200-day simple moving average of $84.09. The firm has a market capitalization of $5.99 billion, a P/E ratio of 37.43 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The firm had revenue of $192.37 million for the quarter, compared to the consensus estimate of $188.09 million. During the same period last year, the firm posted $0.43 EPS. The Descartes Systems Group’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.