Morgan Stanley Boosts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $110.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective boosted by analysts at Morgan Stanley from $100.00 to $110.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential upside of 19.08% from the company’s current price.

Several other brokerages have also commented on DSGX. Barclays dropped their price target on shares of The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. CIBC dropped their price target on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Scotiabank lowered their price target on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.45.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock traded down $0.01 during trading hours on Tuesday, reaching $92.38. The company’s stock had a trading volume of 139,880 shares, compared to its average volume of 419,129. The company’s 50 day simple moving average is $89.19 and its 200 day simple moving average is $98.24. The Descartes Systems Group has a one year low of $78.88 and a one year high of $124.31. The stock has a market cap of $7.94 billion, a P/E ratio of 52.18 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business had revenue of $186.78 million for the quarter, compared to analysts’ expectations of $184.24 million. During the same period in the prior year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DSGX. Quarry LP bought a new position in shares of The Descartes Systems Group during the 3rd quarter worth about $27,000. Mather Group LLC. acquired a new stake in The Descartes Systems Group during the 3rd quarter valued at $28,000. Danske Bank A S bought a new position in shares of The Descartes Systems Group in the third quarter valued at about $34,000. Measured Wealth Private Client Group LLC acquired a new position in shares of The Descartes Systems Group during the third quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in The Descartes Systems Group by 267.3% in the 3rd 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 during the last quarter. 77.73% of the stock is owned by 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.