Canaccord Genuity Group Analysts Give The Descartes Systems Group (NASDAQ:DSGX) a $108.00 Price Target

Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a research note released on Thursday morning, BayStreet.CA reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research firms also recently commented on DSGX. Scotiabank raised their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a sector outperform rating in a report on Friday, May 31st. Barclays upped their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an underweight rating in a research report on Thursday. BMO Capital Markets lifted their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a market perform rating in a research report on Thursday. Royal Bank of Canada restated an outperform rating and issued a $115.00 price target on shares of The Descartes Systems Group in a report on Thursday. Finally, Stephens lifted their price objective on The Descartes Systems Group from $107.00 to $110.00 and gave the stock an overweight rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of Moderate Buy and an average target price of $103.00.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $94.62 on Thursday. The company has a market cap of $8.08 billion, a P/E ratio of 67.59 and a beta of 0.98. The firm has a fifty day moving average of $99.05 and a two-hundred day moving average of $95.09. The Descartes Systems Group has a one year low of $69.59 and a one year 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business 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 Descartes Systems Group’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. As a group, equities analysts predict that The Descartes Systems Group will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds have recently modified their holdings of DSGX. Brown Brothers Harriman & Co. purchased a new stake in The Descartes Systems Group in the 4th quarter worth approximately $27,000. Central Pacific Bank Trust Division acquired a new position in The Descartes Systems Group in the first quarter valued at $28,000. Accent Capital Management LLC purchased a new position in The Descartes Systems Group during the fourth quarter worth about $32,000. Whittier Trust Co. of Nevada Inc. boosted its stake 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 worth $45,000 after buying an additional 429 shares during the last quarter. Finally, Park Place Capital Corp grew 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 buying an additional 219 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

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.