The Descartes Systems Group (NASDAQ:DSGX) Price Target Raised to $100.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price raised by National Bank Financial from $95.00 to $100.00 in a research report released on Monday,BayStreet reports. They currently have an outperform rating on the technology company’s stock.

Several other brokerages have also weighed in on DSGX. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Raymond James Financial reduced their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Scotiabank lifted their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 11th. Canadian Imperial Bank of Commerce boosted their price target on 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, Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average price target of $102.71.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $79.04 on Monday. The firm has a market cap of $6.76 billion, a P/E ratio of 36.93 and a beta of 0.62. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $104.43. The firm has a fifty day moving average of $76.07 and a two-hundred day moving average of $72.92.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $198.12 million for the quarter, compared to analyst estimates of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. On average, sell-side analysts expect that The Descartes Systems Group will post 2.37 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Large investors have recently bought and sold shares of the business. Trust Co. of Vermont bought a new position in shares of The Descartes Systems Group during the second quarter valued at approximately $33,000. Keating Financial Advisory Services Inc. bought a new stake in shares of The Descartes Systems Group in the 2nd quarter worth approximately $38,000. EverSource Wealth Advisors LLC lifted its holdings in shares of The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Allworth Financial LP acquired a new position in The Descartes Systems Group during the 2nd quarter valued at approximately $49,000. Finally, Parallel Advisors LLC boosted its position in The Descartes Systems Group by 124.7% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock valued at $54,000 after purchasing an additional 419 shares during the period. Institutional investors own 77.73% of the company’s stock.

About The Descartes Systems Group

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management software. Its platform helps businesses manage the movement of goods, shipments, vehicles and trade-related information across complex supply chains.

The company’s offerings include transportation management, route planning and optimization, shipment tracking, telematics, freight matching, customs and regulatory compliance, logistics messaging, and electronic connectivity among shippers, carriers, brokers, manufacturers and other supply chain participants.