BMO Capital Markets Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $82.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective dropped by analysts at BMO Capital Markets from $95.00 to $82.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 10.88% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Morgan Stanley upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 15th. Finally, Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $111.30.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock traded up $4.86 during trading hours on Thursday, hitting $73.96. 483,447 shares of the company’s stock traded hands, compared to its average volume of 748,672. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 41.81 and a beta of 0.77. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $117.35. The company has a fifty day simple moving average of $74.84 and a 200-day simple moving average of $86.47.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $192.37 million for the quarter, compared to the consensus estimate of $188.09 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. On average, analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in shares of The Descartes Systems Group during the 3rd quarter valued at $8,528,000. Y Intercept Hong Kong Ltd bought a new position in shares of The Descartes Systems Group in the third quarter worth $2,460,000. Grandeur Peak Global Advisors LLC raised its position in shares of The Descartes Systems Group by 41.2% in the second quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock worth $37,720,000 after buying an additional 108,250 shares in the last quarter. CIBC Asset Management Inc boosted its stake in The Descartes Systems Group by 15.3% during the third quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock valued at $91,369,000 after buying an additional 127,762 shares during the period. Finally, Thrivent Financial for Lutherans bought a new stake in The Descartes Systems Group during the third quarter valued at $10,031,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

More The Descartes Systems Group News

Here are the key news stories impacting The Descartes Systems Group this week:

• Positive Sentiment: Q4 earnings beat — Descartes reported $0.52 EPS vs. consensus $0.50 and revenue of $192.37M vs. $188.09M, with revenue up ~15.1% year-over-year. These results are driving the immediate positive reaction. Earnings Report & Transcript
• Positive Sentiment: Record revenues and income from operations were highlighted in the company press release, reinforcing the quality of the quarter and supporting expectations for continued top-line strength. Press Release
• Positive Sentiment: Barclays kept an Overweight rating on DSGX and set a $89 price target (slightly reduced from $90), which still implies roughly ~20% upside from recent levels — a supportive analyst stance for the stock. Barclays Note
• Neutral Sentiment: Media and analyst coverage expanded — Yahoo and MarketIsOpen ran earnings-call highlights and feature pieces summarizing the record quarter; useful for investors seeking detail but largely reiterative of company disclosures. Yahoo Highlights
• Neutral Sentiment: Additional analyst commentaries and snapshots were published (e.g., Zacks, local press). They reinforce the beat but add little new quantitative detail beyond the company filings and call. Zacks Coverage

The Descartes Systems Group Company Profile

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.