The Descartes Systems Group (NASDAQ:DSGX) Stock Price Expected to Rise, TD Securities Analyst Says

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective hoisted by equities researchers at TD Securities from $115.00 to $135.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the technology company’s stock. TD Securities’ target price indicates a potential upside of 13.71% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Scotiabank increased their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday. National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, BMO Capital Markets raised their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday. Five research 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 stock. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $114.17.

The Descartes Systems Group Trading Down 1.0 %

NASDAQ:DSGX opened at $118.72 on Wednesday. The stock has a fifty day moving average price of $109.34 and a 200 day moving average price of $101.92. The Descartes Systems Group has a 12-month low of $79.21 and a 12-month high of $122.22. The firm has a market cap of $10.15 billion, a PE ratio of 74.67 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.82% and a net margin of 21.80%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. Equities analysts forecast that The Descartes Systems Group will post 1.69 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently modified their holdings of the business. Conestoga Capital Advisors LLC grew its position in The Descartes Systems Group by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after purchasing an additional 52,485 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of The Descartes Systems Group by 0.8% during the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock worth $265,692,000 after buying an additional 19,817 shares during the period. Mackenzie Financial Corp grew its holdings in shares of The Descartes Systems Group by 4.5% during the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock worth $206,807,000 after buying an additional 91,301 shares during the last quarter. Bank of Montreal Can grew its stake in shares of The Descartes Systems Group by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 1,545,027 shares of the technology company’s stock valued at $147,434,000 after purchasing an additional 21,105 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in shares of The Descartes Systems Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock worth $152,037,000 after purchasing an additional 19,002 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

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.