Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) PT at $114.20

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have earned an average recommendation of “Buy” from the twelve research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $114.20.

DSGX has been the subject of a number of research reports. Royal Bank Of Canada set a $126.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, December 1st. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Raymond James Financial upgraded shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a research note on Thursday, December 4th. Finally, Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $106.00 to $105.00 in a research report on Monday, January 12th.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $67.34 on Tuesday. The firm’s 50 day moving average price is $77.42 and its two-hundred day moving average price is $87.79. The Descartes Systems Group has a twelve month low of $62.56 and a twelve month high of $117.35. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 38.05 and a beta of 0.77.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of The Descartes Systems Group during the 3rd quarter worth about $27,000. Mather Group LLC. bought a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at approximately $28,000. Danske Bank A S acquired a new position in The Descartes Systems Group in the third quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new position in The Descartes Systems Group during the third quarter valued at approximately $40,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after acquiring an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.