The Descartes Systems Group (NASDAQ:DSGX) Price Target Raised to $133.00 at Royal Bank of Canada

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target lifted by Royal Bank of Canada from $115.00 to $133.00 in a research note released on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

DSGX has been the topic of a number of other research reports. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. BMO Capital Markets boosted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Scotiabank increased their target price on 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. Finally, StockNews.com upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average target price of $110.75.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $116.87 on Friday. The firm’s 50-day simple moving average is $108.20 and its two-hundred day simple moving average is $101.36. The Descartes Systems Group has a fifty-two week low of $79.21 and a fifty-two week high of $118.49. The stock has a market cap of $9.99 billion, a PE ratio of 78.97 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period last year, the business earned $0.32 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Equities research analysts predict that The Descartes Systems Group will post 1.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC increased its position in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after purchasing an additional 117 shares during the last quarter. Legacy Wealth Asset Management LLC increased its holdings in The Descartes Systems Group by 3.8% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock valued at $388,000 after buying an additional 137 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of The Descartes Systems Group by 4.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after acquiring an additional 158 shares during the last quarter. Assetmark Inc. grew its position in shares of The Descartes Systems Group by 3.5% during the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after acquiring an additional 197 shares during the period. Finally, Park Place Capital Corp increased its stake in shares of The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

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.