BMO Capital Markets Raises The Descartes Systems Group (NASDAQ:DSGX) Price Target to $120.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target upped by investment analysts at BMO Capital Markets from $104.00 to $120.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 1.08% from the stock’s previous close.

Several other equities analysts have also weighed in on DSGX. Royal Bank of Canada lifted their target price on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. 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 note on Thursday, September 5th. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Scotiabank lifted their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average price target of $114.17.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $118.72 on Wednesday. The firm’s fifty day moving average is $109.34 and its two-hundred day moving average is $101.92. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of 74.67 and a beta of 0.98. The Descartes Systems Group has a one year low of $79.21 and a one year high of $122.22.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its 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 Descartes Systems Group had a return on equity of 10.82% and a net margin of 21.80%. The company had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts predict that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of The Descartes Systems Group

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