The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $118.45 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 analysts that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $118.4545.

A number of equities research analysts recently commented on the stock. TD Cowen reaffirmed a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a report on Friday, October 3rd. BMO Capital Markets decreased their target price on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research report on Thursday, December 4th. CIBC dropped their price target on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 8th. Finally, Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th.

Institutional Trading of The Descartes Systems Group

A number of institutional investors have recently modified their holdings of the business. Grandeur Peak Global Advisors LLC grew its stake in The Descartes Systems Group by 41.2% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock worth $37,720,000 after buying an additional 108,250 shares in the last quarter. American Century Companies Inc. raised its position in shares of The Descartes Systems Group by 5.9% during the 1st quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock valued at $22,543,000 after buying an additional 12,571 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in shares of The Descartes Systems Group by 31.9% during the 2nd quarter. Cidel Asset Management Inc. now owns 142,322 shares of the technology company’s stock worth $14,428,000 after acquiring an additional 34,411 shares during the last quarter. Aviva PLC grew its position in The Descartes Systems Group by 8.5% in the second quarter. Aviva PLC now owns 60,356 shares of the technology company’s stock worth $6,130,000 after acquiring an additional 4,709 shares in the last quarter. Finally, AGF Management Ltd. increased its stake in The Descartes Systems Group by 26.3% in the second quarter. AGF Management Ltd. now owns 139,529 shares of the technology company’s stock valued at $14,174,000 after acquiring an additional 29,012 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

DSGX opened at $89.37 on Thursday. The Descartes Systems Group has a fifty-two week low of $78.88 and a fifty-two week high of $124.31. The firm has a 50-day moving average of $89.00 and a 200 day moving average of $97.41. The firm has a market cap of $7.68 billion, a P/E ratio of 50.49 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The business had revenue of $186.78 million for the quarter, compared to analyst estimates of $184.24 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

About The Descartes Systems Group

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.