The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $104.83 Average Target Price from Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $104.83.

A number of equities analysts have recently weighed in on DSGX shares. Barclays upped their price objective on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research note on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of The Descartes Systems Group in a research note on Thursday, September 5th. BMO Capital Markets lifted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $106.41 on Friday. The company has a market capitalization of $9.09 billion, a P/E ratio of 76.01 and a beta of 0.97. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $108.02. The firm’s 50 day simple moving average is $100.86 and its two-hundred day simple moving average is $97.50.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter last year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, sell-side analysts anticipate that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several large investors have recently added to or reduced their stakes in DSGX. Central Pacific Bank Trust Division bought a new stake in shares of The Descartes Systems Group in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC bought a new stake in The Descartes Systems Group in the fourth quarter worth $32,000. Whittier Trust Co. of Nevada Inc. boosted its stake in The Descartes Systems Group by 703.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after buying an additional 429 shares during the period. Park Place Capital Corp increased its position in The Descartes Systems Group by 48.5% during the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after acquiring an additional 219 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of The Descartes Systems Group in the second quarter valued at $61,000. 77.73% of the stock is owned by institutional investors.

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.