Barclays Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $80.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target reduced by Barclays from $90.00 to $80.00 in a report issued on Wednesday morning, The Fly reports.

A number of other brokerages have also issued reports on DSGX. Royal Bank of Canada boosted their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an outperform rating in a research report on Monday, November 29th. Raymond James boosted their target price on shares of The Descartes Systems Group from $80.00 to $83.00 and gave the stock a market perform rating in a research report on Thursday, December 2nd. Finally, Zacks Investment Research upgraded shares of The Descartes Systems Group from a hold rating to a buy rating and set a $90.00 price target on the stock in a research note on Friday, December 3rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has an average rating of Buy and an average target price of $87.83.

Shares of DSGX stock opened at $70.38 on Wednesday. The Descartes Systems Group has a 1 year low of $56.78 and a 1 year high of $91.39. The firm’s fifty day simple moving average is $80.63 and its 200 day simple moving average is $78.44. The firm has a market capitalization of $5.96 billion, a P/E ratio of 71.82 and a beta of 1.01.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Tuesday, November 30th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.07. The Descartes Systems Group had a net margin of 20.77% and a return on equity of 8.85%. The business had revenue of $108.91 million for the quarter, compared to analyst estimates of $106.40 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. As a group, equities analysts anticipate that The Descartes Systems Group will post 1.01 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of The Descartes Systems Group by 4.3% in the 2nd quarter. Bank of Montreal Can now owns 5,239,062 shares of the technology company’s stock valued at $368,935,000 after purchasing an additional 215,779 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of The Descartes Systems Group by 1.1% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,063,297 shares of the technology company’s stock valued at $248,924,000 after purchasing an additional 33,920 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of The Descartes Systems Group by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,560,182 shares of the technology company’s stock valued at $177,061,000 after purchasing an additional 27,801 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of The Descartes Systems Group by 4.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,434,872 shares of the technology company’s stock valued at $168,396,000 after purchasing an additional 102,400 shares in the last quarter. Finally, Echo Street Capital Management LLC boosted its stake in shares of The Descartes Systems Group by 4.6% in the 2nd quarter. Echo Street Capital Management LLC now owns 2,398,522 shares of the technology company’s stock valued at $165,854,000 after purchasing an additional 104,573 shares in the last quarter. Institutional investors own 78.76% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group, Inc engages in the provision of logistics technology solutions. It offers B2B connectivity and messaging, broker and forwarder enterprise systems, customs and regulatory compliance, ecommerce shipping and fulfillment, global trade intelligence, routing, mobile and telematics, and transportation management.

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