BMO Capital Markets Issues Pessimistic Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective cut by BMO Capital Markets from $113.00 to $95.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 2.43% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Royal Bank Of Canada set a $126.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. CIBC cut their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Morgan Stanley cut their target price on The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.55.

The Descartes Systems Group Stock Down 2.2%

DSGX stock opened at $92.75 on Thursday. The business’s 50-day simple moving average is $89.24 and its 200 day simple moving average is $98.61. The Descartes Systems Group has a twelve month low of $78.88 and a twelve month high of $124.31. The company has a market cap of $7.98 billion, a PE ratio of 52.40 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $186.78 million for the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a return on equity of 10.76% and a net margin of 22.10%.The Descartes Systems Group’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. On average, equities research analysts anticipate that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new stake in The Descartes Systems Group during the 3rd quarter valued at $27,000. Mather Group LLC. acquired a new position in The Descartes Systems Group in the third quarter worth $28,000. Danske Bank A S acquired a new position in The Descartes Systems Group in the third quarter worth $34,000. Measured Wealth Private Client Group LLC bought a new stake in shares of The Descartes Systems Group during the third quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after buying an additional 401 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

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.