The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Has Average Price Target of $100.33 According to Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $100.33.

Several equities research analysts recently commented on the company. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Friday, September 4th. 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, October 8th. BMO Capital Markets raised their target price on The Descartes Systems Group from $82.00 to $90.00 and gave the company a “market perform” rating in a report on Tuesday, October 13th. National Bank Financial boosted their price target on The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Finally, Scotia boosted their price target on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 11th.

Institutional Trading of The Descartes Systems Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Aberdeen Group plc boosted its holdings in The Descartes Systems Group by 672.7% during the third quarter. Aberdeen Group plc now owns 69,096 shares of the technology company’s stock valued at $5,587,000 after acquiring an additional 60,154 shares during the period. Allworth Financial LP increased its stake in shares of The Descartes Systems Group by 72.4% in the third quarter. Allworth Financial LP now owns 1,210 shares of the technology company’s stock worth $98,000 after purchasing an additional 508 shares during the period. Ritholtz Wealth Management lifted its position in shares of The Descartes Systems Group by 8.7% during the 3rd quarter. Ritholtz Wealth Management now owns 5,015 shares of the technology company’s stock worth $406,000 after purchasing an additional 402 shares during the last quarter. Riverbridge Partners LLC lifted its position in shares of The Descartes Systems Group by 6.8% during the 3rd quarter. Riverbridge Partners LLC now owns 310,952 shares of the technology company’s stock worth $25,144,000 after purchasing an additional 19,850 shares during the last quarter. Finally, Keybank National Association OH acquired a new position in shares of The Descartes Systems Group during the 3rd quarter worth about $535,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Down 0.9%

DSGX opened at $93.99 on Friday. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 43.92 and a beta of 0.65. The Descartes Systems Group has a 1 year low of $62.56 and a 1 year high of $96.75. The stock has a fifty day moving average price of $83.79 and a 200 day moving average price of $75.01.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The company had revenue of $198.12 million for the quarter, compared to analyst estimates of $197.54 million. During the same period in the prior year, the firm posted $0.43 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts forecast 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 is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes’ products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.