The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Has Consensus Target Price of $99.67

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $100.33.

Several equities research analysts recently issued reports on DSGX shares. Loop Capital reissued a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, October 8th. BMO Capital Markets lifted their price target on The Descartes Systems Group from $82.00 to $90.00 and gave the company a “market perform” rating in a research report on Tuesday. Scotiabank lifted their price target on The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday, September 11th. Scotia boosted their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Friday, September 11th. Finally, Royal Bank Of Canada set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Friday, September 4th.

The Descartes Systems Group Trading Up 1.4%

Shares of The Descartes Systems Group stock opened at $84.88 on Wednesday. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $98.25. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 39.10 and a beta of 0.65. The company’s 50-day moving average price is $78.90 and its 200-day moving average price is $74.20.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $198.12 million during the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. On average, sell-side analysts predict that The Descartes Systems Group will post 2.37 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Hedge funds have recently made changes to their positions in the stock. Jupiter Topco LLC purchased a new position in shares of The Descartes Systems Group in the second quarter worth about $181,742,000. Janus Henderson Group PLC increased its stake in shares of The Descartes Systems Group by 4.1% in the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock worth $184,127,000 after buying an additional 100,937 shares during the period. The Manufacturers Life Insurance Company bought a new stake in The Descartes Systems Group during the 2nd quarter valued at $141,403,000. Arrowstreet Capital Limited Partnership raised its holdings in The Descartes Systems Group by 74.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after buying an additional 743,104 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in The Descartes Systems Group by 640.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock valued at $94,402,000 after buying an additional 1,179,345 shares during the period. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company’s products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.