The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $103.17 Average Target Price from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has earned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $103.1667.

A number of equities research analysts have weighed in on DSGX shares. BMO Capital Markets reduced their price objective on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating for the company in a research note on Thursday, March 12th. Loop Capital restated a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and cut their target price for the company from $100.00 to $90.00 in a report on Thursday, April 16th. Barclays reduced their price target on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in The Descartes Systems Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after acquiring an additional 69,260 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of The Descartes Systems Group by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock valued at $296,326,000 after purchasing an additional 56,069 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of The Descartes Systems Group by 4.1% in the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock valued at $184,127,000 after purchasing an additional 100,937 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of The Descartes Systems Group by 74.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after purchasing an additional 743,104 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of The Descartes Systems Group by 0.3% during the third quarter. Bank of Montreal Can now owns 1,683,790 shares of the technology company’s stock worth $158,507,000 after purchasing an additional 5,317 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $72.79 on Monday. The company has a fifty day moving average of $71.38 and a two-hundred day moving average of $74.08. The company has a market capitalization of $6.24 billion, a PE ratio of 36.40 and a beta of 0.64. The Descartes Systems Group has a 1 year low of $62.56 and a 1 year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results 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 business had revenue of $166.96 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, research analysts expect that The Descartes Systems Group will post 2.37 earnings per share for the current year.

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.