The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Has Average Target Price of $99.67

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $99.67.

Several equities research analysts have weighed in on DSGX shares. Scotiabank upped their price target on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Friday, September 11th. Royal Bank Of Canada set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Friday, September 4th. Weiss Ratings upgraded The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 21st. Loop Capital reissued a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday. Finally, Scotia upped their target price on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research note on Friday, September 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in The Descartes Systems Group by 9.6% in the third quarter. Versant Capital Management Inc now owns 1,467 shares of the technology company’s stock valued at $119,000 after buying an additional 129 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in The Descartes Systems Group by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares during the last quarter. Parallel Advisors LLC lifted its holdings in The Descartes Systems Group by 124.7% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock worth $54,000 after buying an additional 419 shares during the last quarter. Value Partners Investments Inc. boosted its position in shares of The Descartes Systems Group by 6.7% during the 1st quarter. Value Partners Investments Inc. now owns 6,758 shares of the technology company’s stock worth $483,000 after acquiring an additional 423 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $82.82 on Wednesday. The Descartes Systems Group has a twelve month low of $62.56 and a twelve month high of $98.35. The stock’s fifty day simple moving average is $78.61 and its 200-day simple moving average is $74.01. The firm has a market capitalization of $7.09 billion, a P/E ratio of 38.70 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $198.12 million for the quarter, compared to analysts’ expectations of $197.54 million. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. Sell-side analysts predict that The Descartes Systems Group will post 2.37 earnings per share for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company’s products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.