Analysts Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Target Price at $120.33

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $120.33.

Several equities analysts have recently commented on the stock. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. CIBC decreased their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. BMO Capital Markets cut their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Finally, Royal Bank of Canada decreased their price target on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th.

Institutional Investors Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its holdings in The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in The Descartes Systems Group by 2.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 15,468 shares of the technology company’s stock valued at $1,758,000 after acquiring an additional 345 shares during the last quarter. Sone Capital Management LLC acquired a new stake in The Descartes Systems Group in the 4th quarter valued at about $4,754,000. Squarepoint Ops LLC acquired a new stake in The Descartes Systems Group in the 4th quarter valued at about $712,000. Finally, Two Sigma Investments LP lifted its holdings in The Descartes Systems Group by 33.5% in the 4th quarter. Two Sigma Investments LP now owns 171,713 shares of the technology company’s stock valued at $19,507,000 after acquiring an additional 43,092 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Up 0.8 %

DSGX opened at $100.21 on Tuesday. The company’s 50-day moving average price is $112.73 and its 200 day moving average price is $110.18. The Descartes Systems Group has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 63.03 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. Research analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current year.

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.