BMO Capital Markets Issues Positive Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price lifted by stock analysts at BMO Capital Markets from $104.00 to $120.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 3.43% from the company’s previous close.

DSGX has been the subject of a number of other reports. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $88.00 to $125.00 in a report on Friday, November 15th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Monday. National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Royal Bank of Canada upped their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Finally, Scotiabank lifted their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $112.08.

The Descartes Systems Group Price Performance

DSGX stock opened at $116.02 on Wednesday. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 78.39 and a beta of 0.98. The company has a 50-day moving average of $108.71 and a two-hundred day moving average of $101.68. The Descartes Systems Group has a 52-week low of $79.21 and a 52-week high of $118.49.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. Equities analysts expect that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several large investors have recently made changes to their positions in DSGX. Franklin Resources Inc. boosted its position in The Descartes Systems Group by 3.1% in the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock valued at $142,693,000 after buying an additional 40,807 shares in the last quarter. Synovus Financial Corp raised its stake in shares of The Descartes Systems Group by 8.4% in the third quarter. Synovus Financial Corp now owns 15,354 shares of the technology company’s stock valued at $1,581,000 after acquiring an additional 1,190 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of The Descartes Systems Group in the 3rd quarter worth approximately $465,000. Barclays PLC grew its position in The Descartes Systems Group by 2.8% during the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after acquiring an additional 270 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in The Descartes Systems Group by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock valued at $50,277,000 after purchasing an additional 46,523 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

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.