The Descartes Systems Group (NASDAQ:DSGX) Given a $95.00 Price Target at National Bank Financial

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

Other equities analysts have also recently issued research reports about the company. Zacks Research cut The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Raymond James Financial cut their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Loop Capital reaffirmed a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $100.00 to $90.00 in a research report on Thursday, April 16th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of The Descartes Systems Group in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Stock Down 0.9%

DSGX stock traded down $0.63 during midday trading on Tuesday, reaching $72.13. 250,318 shares of the company’s stock traded hands, compared to its average volume of 630,203. The company has a 50-day simple moving average of $71.43 and a two-hundred day simple moving average of $73.35. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $109.00. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 36.02 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Equities research analysts forecast 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 have recently added to or reduced their stakes in the stock. AXA S.A. boosted its holdings in The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after buying an additional 130 shares during the last quarter. Reynders McVeigh Capital Management LLC increased its stake in shares of The Descartes Systems Group by 0.3% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock valued at $5,207,000 after acquiring an additional 140 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in shares of The Descartes Systems Group by 4.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock valued at $368,000 after acquiring an additional 143 shares during the period. GAMMA Investing LLC raised its position in shares of The Descartes Systems Group by 18.7% in the 4th quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock valued at $92,000 after acquiring an additional 165 shares during the period. Finally, Federated Hermes Inc. boosted its stake in The Descartes Systems Group by 19.2% during the 4th quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company’s stock worth $96,000 after acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds 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.