The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $120.33 Consensus Target Price from Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $120.33.

Several equities analysts have recently commented on DSGX shares. BMO Capital Markets reduced their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Barclays reduced their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Royal Bank of Canada cut their target price on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. CIBC cut their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Stephens cut their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th.

The Descartes Systems Group Trading Up 2.3 %

Shares of NASDAQ DSGX opened at $99.39 on Tuesday. The stock has a fifty day moving average price of $112.73 and a 200 day moving average price of $110.10. The company has a market cap of $8.51 billion, a P/E ratio of 62.51 and a beta of 0.99. The Descartes Systems Group has a 12-month low of $87.20 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. 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

A number of hedge funds have recently made changes to their positions in the stock. Mather Group LLC. grew its position in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after buying an additional 181 shares during the last quarter. GeoWealth Management LLC grew its position in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after buying an additional 132 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in The Descartes Systems Group in the fourth quarter worth approximately $43,000. Trust Co. of Vermont acquired a new position in The Descartes Systems Group in the fourth quarter worth approximately $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in The Descartes Systems Group in the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.