The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity in a note issued to investors on Thursday. They currently have a $30.00 price target on the technology company’s stock, up from their prior price target of $28.00. Canaccord Genuity’s price target would suggest a potential upside of 4.53% from the stock’s current price.

A number of other research analysts have also weighed in on DSGX. BMO Capital Markets reissued a “hold” rating and issued a $26.00 target price on shares of The Descartes Systems Group in a research note on Thursday, August 17th. Royal Bank Of Canada raised their target price on shares of The Descartes Systems Group from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. ValuEngine raised shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Wednesday, August 23rd. Finally, BidaskClub raised shares of The Descartes Systems Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The Descartes Systems Group presently has a consensus rating of “Buy” and an average price target of $32.06.

Shares of The Descartes Systems Group (DSGX) traded up 1.06% during midday trading on Thursday, reaching $28.70. The company’s stock had a trading volume of 189,928 shares. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 89.69 and a beta of 0.56. The stock’s 50 day moving average price is $26.60 and its 200 day moving average price is $24.27. The Descartes Systems Group has a one year low of $20.20 and a one year high of $29.25.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 6th. The technology company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.01. The Descartes Systems Group had a return on equity of 5.78% and a net margin of 11.80%. The business had revenue of $57.29 million during the quarter, compared to analysts’ expectations of $55.74 million. Analysts predict that The Descartes Systems Group will post $0.43 earnings per share for the current year.

WARNING: This article was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/09/07/canaccord-genuity-increases-the-descartes-systems-group-inc-dsgx-price-target-to-30-00.html.

Several hedge funds have recently added to or reduced their stakes in DSGX. Shell Asset Management Co. raised its position in shares of The Descartes Systems Group by 0.4% during the 1st quarter. Shell Asset Management Co. now owns 7,912 shares of the technology company’s stock valued at $241,000 after buying an additional 32 shares during the period. BB&T Corp acquired a new stake in The Descartes Systems Group in the 1st quarter valued at approximately $254,000. American Century Companies Inc. increased its holdings in The Descartes Systems Group by 6.4% in the 1st quarter. American Century Companies Inc. now owns 455,649 shares of the technology company’s stock valued at $10,440,000 after purchasing an additional 27,590 shares during the last quarter. US Bancorp DE increased its holdings in The Descartes Systems Group by 89.6% in the 1st quarter. US Bancorp DE now owns 4,825 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,280 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in The Descartes Systems Group by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 67,210 shares of the technology company’s stock valued at $1,539,000 after purchasing an additional 955 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Company Profile

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

Analyst Recommendations for The Descartes Systems Group (NASDAQ:DSGX)

Receive News & Ratings for The Descartes Systems Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Descartes Systems Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.