Analysts Set The Descartes Systems Group Inc. (NASDAQ:DSGX) PT at $103.17

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $103.1667.

DSGX has been the topic of several analyst reports. Zacks Research cut The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. Raymond James Financial lowered their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Barclays dropped their target price on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Finally, Loop Capital reissued 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in shares of The Descartes Systems Group by 47.2% in the second quarter. Versant Capital Management Inc now owns 1,338 shares of the technology company’s stock valued at $93,000 after acquiring an additional 429 shares during the period. Parallel Advisors LLC lifted its holdings in shares of The Descartes Systems Group by 124.7% in the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock worth $54,000 after acquiring an additional 419 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of The Descartes Systems Group by 10.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 490,898 shares of the technology company’s stock worth $35,129,000 after purchasing an additional 45,558 shares during the period. Argent Capital Management LLC boosted its stake in shares of The Descartes Systems Group by 56.9% during the 1st quarter. Argent Capital Management LLC now owns 90,549 shares of the technology company’s stock worth $6,480,000 after purchasing an additional 32,824 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of The Descartes Systems Group by 62.0% during the 1st quarter. Bank of America Corp DE now owns 733,483 shares of the technology company’s stock worth $52,488,000 after purchasing an additional 280,713 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

DSGX stock opened at $72.79 on Monday. The Descartes Systems Group has a 52 week low of $62.56 and a 52 week high of $109.00. The company has a fifty day simple moving average of $71.38 and a two-hundred day simple moving average of $74.19. The firm has a market capitalization of $6.24 billion, a P/E ratio of 36.40 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $166.96 million for 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 business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. As a group, analysts anticipate that The Descartes Systems Group will post 2.37 EPS 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.