The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $102.36 Average PT from Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $102.7143.

A number of equities analysts recently weighed in on DSGX shares. Scotiabank lifted their price target on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research note on Friday. Scotia raised their target price on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Friday. Loop Capital reissued a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Canadian Imperial Bank of Commerce boosted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. Finally, Royal Bank Of Canada set a $125.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Friday, September 4th.

Institutional Trading of The Descartes Systems Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Trust Co. of Vermont purchased a new position in The Descartes Systems Group in the second quarter valued at about $33,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter worth about $38,000. EverSource Wealth Advisors LLC raised its stake in shares of The Descartes Systems Group by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at about $49,000. Finally, Parallel Advisors LLC grew its stake in shares of The Descartes Systems Group by 124.7% in the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock valued at $54,000 after buying an additional 419 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $80.02 on Friday. The Descartes Systems Group has a one year low of $62.56 and a one year high of $105.24. The stock has a fifty day moving average of $75.76 and a 200-day moving average of $72.73. The company has a market capitalization of $6.85 billion, a PE ratio of 37.39 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $198.12 million for the quarter, compared to analysts’ expectations of $197.54 million. The Descartes Systems Group had a return on equity of 11.75% and a net margin of 24.25%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. As a group, research analysts forecast that The Descartes Systems Group will post 2.38 EPS for the current fiscal year.

About The Descartes Systems Group

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management software. Its platform helps businesses manage the movement of goods, shipments, vehicles and trade-related information across complex supply chains.

The company’s offerings include transportation management, route planning and optimization, shipment tracking, telematics, freight matching, customs and regulatory compliance, logistics messaging, and electronic connectivity among shippers, carriers, brokers, manufacturers and other supply chain participants.