Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) PT at $116.20

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has earned a consensus recommendation of “Buy” from the twelve analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $114.20.

A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Scotiabank cut their price objective on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday. Raymond James Financial raised shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a research note on Thursday, December 4th. Barclays raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $106.00 to $105.00 in a research note on Monday, January 12th. Finally, Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, December 1st.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $67.89 on Friday. The stock has a market capitalization of $5.84 billion, a P/E ratio of 38.36 and a beta of 0.75. The Descartes Systems Group has a 52 week low of $64.27 and a 52 week high of $124.31. The stock has a fifty day moving average of $85.27 and a 200-day moving average of $92.50.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. The business had revenue of $186.78 million for the quarter, compared to analyst estimates of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors have recently modified their holdings of DSGX. Quarry LP bought a new position in The Descartes Systems Group during the 3rd quarter worth approximately $27,000. Mather Group LLC. acquired a new stake in The Descartes Systems Group in the third quarter worth $28,000. Danske Bank A S acquired a new stake in The Descartes Systems Group in the third quarter worth $34,000. Measured Wealth Private Client Group LLC bought a new position in shares of The Descartes Systems Group during the third quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of 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 period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.