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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) has been given a $95.00 price objective by research analysts at National Bank Financial in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the technology company’s stock. National Bank Financial’s target price indicates a potential upside of 27.53% from the company’s previous close.

Several other brokerages have also issued reports on DSGX. Loop Capital restated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $100.00 to $90.00 in a report on Thursday, April 16th. Canadian Imperial Bank of Commerce boosted their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Thursday, June 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of The Descartes Systems Group in a research note on Tuesday, July 7th. Finally, Raymond James Financial lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.54.

The Descartes Systems Group Trading Up 0.4%

Shares of NASDAQ:DSGX traded up $0.33 during midday trading on Monday, reaching $74.49. The company had a trading volume of 264,726 shares, compared to its average volume of 625,822. The stock has a market cap of $6.38 billion, a P/E ratio of 37.28 and a beta of 0.64. The company’s 50 day moving average price is $71.51 and its 200 day moving average price is $72.91. The Descartes Systems Group has a 52-week low of $62.56 and a 52-week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. Research analysts forecast that The Descartes Systems Group will post 2.37 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of The Descartes Systems Group by 35.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after buying an additional 98,054 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in The Descartes Systems Group by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after buying an additional 660 shares in the last quarter. Amundi boosted its stake in The Descartes Systems Group by 74.5% in the second quarter. Amundi now owns 82,319 shares of the technology company’s stock worth $8,360,000 after buying an additional 35,132 shares in the last quarter. Federated Hermes Inc. grew its position in The Descartes Systems Group by 25.6% during the second quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after acquiring an additional 254 shares during the last quarter. Finally, AXA S.A. raised its stake in shares of 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 acquiring an additional 130 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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.