Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Price Target at $118.45

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $118.4545.

Several brokerages have issued reports on DSGX. Scotiabank lowered their target price on The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 4th. Barclays decreased their price target on The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 8th. Morgan Stanley raised their price target on shares of The Descartes Systems Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, December 9th. Finally, Raymond James Financial raised shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a report on Thursday, December 4th.

Institutional Investors Weigh In On The Descartes Systems Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC raised its position in The Descartes Systems Group by 7.7% during the first quarter. LPL Financial LLC now owns 23,021 shares of the technology company’s stock valued at $2,321,000 after purchasing an additional 1,646 shares in the last quarter. Vanguard Group Inc. boosted its stake in The Descartes Systems Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company’s stock worth $336,814,000 after buying an additional 46,369 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of The Descartes Systems Group by 80.5% in the 1st quarter. Deutsche Bank AG now owns 236,029 shares of the technology company’s stock valued at $23,799,000 after purchasing an additional 105,238 shares in the last quarter. Nuveen LLC bought a new position in shares of The Descartes Systems Group during the 1st quarter valued at $21,074,000. Finally, HighTower Advisors LLC lifted its stake in The Descartes Systems Group by 3.9% in the first quarter. HighTower Advisors LLC now owns 11,710 shares of the technology company’s stock worth $1,181,000 after purchasing an additional 444 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Down 1.7%

Shares of NASDAQ:DSGX opened at $90.71 on Thursday. The stock’s fifty day simple moving average is $89.11 and its two-hundred day simple moving average is $97.70. The Descartes Systems Group has a 1-year low of $78.88 and a 1-year high of $124.31. The stock has a market cap of $7.80 billion, a PE ratio of 51.25 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. The firm had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. On average, sell-side analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

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.