The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $116.30 Average PT from Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $116.30.

A number of brokerages have commented on DSGX. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st. TD Cowen reiterated a “buy” rating and issued a $121.00 target price on shares of The Descartes Systems Group in a research report on Friday, October 3rd. BMO Capital Markets lowered their price target on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, December 4th. Barclays reduced their price objective on The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Finally, Morgan Stanley boosted their target price on The Descartes Systems Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 9th.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $87.46 on Monday. The firm has a fifty day moving average of $86.18 and a 200 day moving average of $95.46. The Descartes Systems Group has a 52-week low of $78.88 and a 52-week high of $124.31. The firm has a market capitalization of $7.52 billion, a PE ratio of 49.41 and a beta of 0.74.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in The Descartes Systems Group during the 3rd quarter valued at $27,000. Mather Group LLC. bought a new position in shares of The Descartes Systems Group during the third quarter valued at about $28,000. Danske Bank A S bought a new position in shares of The Descartes Systems Group during the third quarter valued at about $34,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of The Descartes Systems Group during the third quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after purchasing an additional 401 shares during the last quarter. 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.