The Descartes Systems Group (NASDAQ:DSGX) PT Set at $95.00 by National Bank Financial

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) has been given a $95.00 target price by equities researchers at National Bank Financial in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the technology company’s stock. National Bank Financial’s target price points to a potential upside of 31.71% from the stock’s previous close.

Several other analysts have also weighed in on DSGX. Loop Capital reissued a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. Raymond James Financial cut their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Zacks Research cut The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Canadian Imperial Bank of Commerce boosted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of The Descartes Systems Group in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $102.54.

The Descartes Systems Group Stock Performance

Shares of DSGX traded down $0.63 during trading hours on Tuesday, reaching $72.13. 250,318 shares of the company traded hands, compared to its average volume of 630,203. The stock’s fifty day moving average is $71.43 and its 200 day moving average is $73.35. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $109.00. The stock has a market cap of $6.18 billion, a P/E ratio of 36.02 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business had revenue of $166.96 million for the quarter, compared to the consensus estimate of $193.57 million. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts predict that The Descartes Systems Group will post 2.37 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently modified their holdings of DSGX. Clearbridge Investments LLC boosted its stake in shares of The Descartes Systems Group by 25.2% in the 4th quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company’s stock valued at $35,402,000 after purchasing an additional 81,354 shares in the last quarter. Norges Bank acquired a new stake in shares of The Descartes Systems Group during the 4th quarter worth about $100,405,000. Vanguard Group Inc. lifted its holdings in The Descartes Systems Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after purchasing an additional 69,260 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in The Descartes Systems Group by 809.0% during the 4th quarter. BNP Paribas Financial Markets now owns 236,003 shares of the technology company’s stock valued at $20,688,000 after purchasing an additional 210,041 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in The Descartes Systems Group in the first quarter valued at about $8,671,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

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.