Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Target Price at $102.00

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $102.00.

A number of analysts recently issued reports on the company. Redburn Atlantic assumed coverage on The Descartes Systems Group in a research report on Tuesday, May 14th. They set a “neutral” rating and a $90.00 price objective for the company. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Barclays raised their price objective on The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. TD Securities raised their price objective on The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Scotiabank raised their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 31st.

The Descartes Systems Group Stock Up 0.4 %

Shares of DSGX opened at $99.90 on Friday. The Descartes Systems Group has a 52-week low of $69.59 and a 52-week high of $104.71. The company has a market capitalization of $8.53 billion, a PE ratio of 71.36 and a beta of 0.98. The stock has a fifty day simple moving average of $98.71 and a two-hundred day simple moving average of $94.56.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The business had revenue of $151.30 million for the quarter, compared to analyst estimates of $151.80 million. The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. As a group, equities analysts anticipate that The Descartes Systems Group will post 1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of The Descartes Systems Group by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after buying an additional 278,796 shares during the period. Vanguard Group Inc. boosted its stake in shares of The Descartes Systems Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after buying an additional 40,897 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of The Descartes Systems Group by 2.2% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 3,116,109 shares of the technology company’s stock valued at $301,764,000 after buying an additional 66,645 shares during the period. Fiera Capital Corp boosted its stake in shares of The Descartes Systems Group by 3.3% in the 2nd quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock valued at $248,024,000 after buying an additional 81,263 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of The Descartes Systems Group by 4.5% in the 2nd quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after buying an additional 91,301 shares during the period. 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 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.