The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $102.54 Consensus PT from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $102.5385.

Several equities research analysts have recently issued reports on DSGX shares. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, July 20th. Raymond James Financial lowered their price target on 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. Canadian Imperial Bank of Commerce raised their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. Finally, Loop Capital restated a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, June 4th.

Hedge Funds Weigh In On The Descartes Systems Group

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at about $27,000. Trust Co. of Vermont purchased a new stake in The Descartes Systems Group during the 2nd quarter worth approximately $33,000. Danske Bank A S purchased a new stake in The Descartes Systems Group during the 3rd quarter worth approximately $34,000. Keating Financial Advisory Services Inc. purchased a new position in shares of The Descartes Systems Group in the second quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of The Descartes Systems Group by 57.5% in the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $77.83 on Tuesday. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 38.91 and a beta of 0.62. The firm’s 50 day simple moving average is $72.97 and its 200-day simple moving average is $71.33. The Descartes Systems Group has a 12 month low of $62.56 and a 12 month high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results 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 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 firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. Analysts anticipate that The Descartes Systems Group will post 2.37 earnings per share for the current fiscal 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.