Morgan Stanley Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $100.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective decreased by stock analysts at Morgan Stanley from $110.00 to $100.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target suggests a potential upside of 24.90% from the company’s current price.

Several other analysts have also recently issued reports on DSGX. CIBC lowered their target price on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. TD Securities initiated coverage on shares of The Descartes Systems Group in a report on Friday, October 3rd. They issued a “buy” rating and a $121.00 price target on the stock. Zacks Research raised The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Wall Street Zen raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, TD Cowen restated a “buy” rating and set a $121.00 price objective on shares of The Descartes Systems Group in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $120.70.

The Descartes Systems Group Stock Up 0.9%

DSGX traded up $0.69 during trading on Thursday, reaching $80.07. 123,017 shares of the company were exchanged, compared to its average volume of 407,949. The Descartes Systems Group has a 12-month low of $78.88 and a 12-month high of $124.31. The company’s 50-day moving average is $93.37 and its two-hundred day moving average is $100.77. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 47.30 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The company had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently bought and sold shares of DSGX. Ritholtz Wealth Management lifted its stake in The Descartes Systems Group by 1.7% in the third quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock worth $627,000 after acquiring an additional 114 shares during the period. GAMMA Investing LLC boosted its stake in shares of The Descartes Systems Group by 23.2% during the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after purchasing an additional 117 shares in the last quarter. Vista Finance LLC increased its position in shares of The Descartes Systems Group by 4.0% during the second quarter. Vista Finance LLC now owns 3,245 shares of the technology company’s stock valued at $330,000 after buying an additional 126 shares during the period. AXA S.A. raised its stake in The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after buying an additional 130 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of The Descartes Systems Group by 24.8% in the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after acquiring an additional 131 shares in the last quarter. 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.