The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) had its target price hoisted by equities research analysts at BMO Capital Markets from $26.00 to $29.00 in a report released on Thursday. The brokerage currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective points to a potential upside of 2.11% from the stock’s current price.

A number of other research firms have also weighed in on DSGX. Royal Bank Of Canada boosted their price objective on 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 The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Canaccord Genuity boosted their price objective on The Descartes Systems Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James Financial, Inc. boosted their price objective on The Descartes Systems Group from $24.50 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Finally, BidaskClub raised The Descartes Systems Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $32.06.

The Descartes Systems Group (DSGX) traded up 1.06% during mid-day trading on Thursday, reaching $28.70. The company had a trading volume of 189,928 shares. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 89.69 and a beta of 0.56. The stock has a 50 day moving average of $26.48 and a 200 day moving average of $24.24. The Descartes Systems Group has a 52 week low of $20.20 and a 52 week high of $29.25.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data 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 company had revenue of $57.29 million for the quarter, compared to analyst estimates of $55.74 million. The Descartes Systems Group had a return on equity of 5.78% and a net margin of 11.80%. Analysts anticipate that The Descartes Systems Group will post $0.43 earnings per share for the current year.

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A number of large investors have recently bought and sold shares of DSGX. Mawer Investment Management Ltd. raised its position in The Descartes Systems Group by 24.8% in the first quarter. Mawer Investment Management Ltd. now owns 3,712,275 shares of the technology company’s stock valued at $150,755,000 after purchasing an additional 737,395 shares during the period. Fiera Capital Corp raised its position in The Descartes Systems Group by 87.3% in the second quarter. Fiera Capital Corp now owns 1,573,855 shares of the technology company’s stock valued at $38,223,000 after purchasing an additional 733,678 shares during the period. Conestoga Capital Advisors LLC raised its position in The Descartes Systems Group by 32.6% in the second quarter. Conestoga Capital Advisors LLC now owns 2,118,060 shares of the technology company’s stock valued at $51,575,000 after purchasing an additional 521,220 shares during the period. FMR LLC raised its position in The Descartes Systems Group by 391.7% in the first quarter. FMR LLC now owns 637,710 shares of the technology company’s stock valued at $14,611,000 after purchasing an additional 508,020 shares during the period. Finally, Morgan Stanley raised its position in The Descartes Systems Group by 122.7% in the first quarter. Morgan Stanley now owns 633,028 shares of the technology company’s stock valued at $14,496,000 after purchasing an additional 348,754 shares during the period. Institutional investors own 79.10% of the company’s stock.

About The Descartes Systems Group

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)

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