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

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $99.67.

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

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DSGX. GAMMA Investing LLC bought a new position in The Descartes Systems Group in the third quarter worth $122,000. Moody National Bank Trust Division purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter worth about $874,000. Versant Capital Management Inc grew its position in shares of The Descartes Systems Group by 9.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,467 shares of the technology company’s stock worth $119,000 after buying an additional 129 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of The Descartes Systems Group by 9.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 143,645 shares of the technology company’s stock worth $9,946,000 after acquiring an additional 11,828 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in The Descartes Systems Group by 85.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,045,632 shares of the technology company’s stock valued at $141,403,000 after acquiring an additional 944,877 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

DSGX opened at $82.82 on Wednesday. The Descartes Systems Group has a 52-week low of $62.56 and a 52-week high of $98.35. The stock has a market capitalization of $7.09 billion, a PE ratio of 38.70 and a beta of 0.65. The stock’s 50 day moving average price is $78.61 and its 200-day moving average price is $74.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $198.12 million during the quarter, compared to analyst estimates of $197.54 million. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. Research analysts forecast that The Descartes Systems Group will post 2.37 EPS for the current fiscal 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.