The Descartes Systems Group (NASDAQ:DSGX) Price Target Lowered to $95.00 at Scotiabank

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price decreased by Scotiabank from $115.00 to $95.00 in a research note released on Wednesday morning, Marketbeat.com reports. Scotiabank currently has an outperform rating on the technology company’s stock.

Several other brokerages have also issued reports on DSGX. CIBC cut their target price on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a report on Thursday, December 4th. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Barclays upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $106.00 to $105.00 in a research report on Monday, January 12th. Finally, Morgan Stanley upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, The Descartes Systems Group presently has an average rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Trading Up 0.9%

DSGX stock opened at $66.95 on Wednesday. The company’s 50 day moving average is $85.56 and its 200 day moving average is $92.68. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 37.83 and a beta of 0.75. The Descartes Systems Group has a 1-year low of $64.27 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $184.24 million. During the same period in the previous year, the business posted $0.42 earnings per share. The Descartes Systems Group’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in shares of The Descartes Systems Group during the third quarter valued at about $27,000. Mather Group LLC. purchased a new stake in The Descartes Systems Group in the 3rd quarter worth approximately $28,000. Danske Bank A S bought a new stake in shares of The Descartes Systems Group in the 3rd quarter worth approximately $34,000. Measured Wealth Private Client Group LLC purchased a new position in shares of The Descartes Systems Group during the third quarter valued at approximately $40,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.