The Descartes Systems Group (NASDAQ:DSGX) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target hoisted by equities research analysts at BMO Capital Markets from $82.00 to $90.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 6.11% from the company’s previous close.

Several other analysts also recently commented on DSGX. Scotia raised their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research note on Friday, September 11th. National Bank Financial upped their price target on The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, September 14th. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Friday, September 4th. Weiss Ratings upgraded The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 21st. Finally, Scotiabank raised 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 note on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.33.

The Descartes Systems Group Trading Up 1.4%

NASDAQ DSGX traded up $1.15 on Tuesday, hitting $84.82. 248,366 shares of the company were exchanged, compared to its average volume of 614,899. The company has a market cap of $7.26 billion, a PE ratio of 39.56 and a beta of 0.65. The stock has a fifty day moving average of $78.75 and a 200-day moving average of $74.10. The Descartes Systems Group has a 12 month low of $62.56 and a 12 month high of $98.25.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The firm had revenue of $198.12 million during the quarter, compared to the consensus estimate of $197.54 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. On average, analysts expect that The Descartes Systems Group will post 2.37 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSGX. Bank of America Corp DE lifted its holdings in shares of The Descartes Systems Group by 62.0% in the first quarter. Bank of America Corp DE now owns 733,483 shares of the technology company’s stock valued at $52,488,000 after purchasing an additional 280,713 shares in the last quarter. Walleye Capital LLC raised its stake in shares of The Descartes Systems Group by 1,011.9% during the 1st quarter. Walleye Capital LLC now owns 128,723 shares of the technology company’s stock worth $9,211,000 after purchasing an additional 117,146 shares during the period. The Manufacturers Life Insurance Company raised its position in The Descartes Systems Group by 140.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,100,755 shares of the technology company’s stock worth $78,772,000 after acquiring an additional 643,071 shares during the period. Segall Bryant & Hamill LLC lifted its stake in The Descartes Systems Group by 10.2% in the first quarter. Segall Bryant & Hamill LLC now owns 490,898 shares of the technology company’s stock valued at $35,129,000 after purchasing an additional 45,558 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in shares of The Descartes Systems Group during the 1st quarter valued at $8,671,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Company Profile

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.