Brokerages Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Target Price at $122.18

The Descartes Systems Group Inc. (NASDAQ:DSGXGet Free Report) (TSE:DSG) has received an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $122.18.

Several equities research analysts have weighed in on the stock. BMO Capital Markets cut their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. Wall Street Zen downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Stephens reduced their target price on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Scotiabank increased their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 26th. Finally, Barclays cut their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th.

Check Out Our Latest Analysis on DSGX

The Descartes Systems Group Trading Up 1.7%

NASDAQ DSGX opened at $116.93 on Friday. The Descartes Systems Group has a 1-year low of $89.00 and a 1-year high of $124.31. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 73.54 and a beta of 0.88. The stock’s 50 day moving average is $105.47 and its two-hundred day moving average is $110.78.

The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. On average, analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in The Descartes Systems Group by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company’s stock worth $719,370,000 after purchasing an additional 936,718 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after buying an additional 2,800,492 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of The Descartes Systems Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company’s stock valued at $336,814,000 after buying an additional 46,369 shares during the period. Fiera Capital Corp raised its position in shares of The Descartes Systems Group by 8.0% during the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company’s stock worth $276,705,000 after acquiring an additional 202,973 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of The Descartes Systems Group by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company’s stock worth $196,412,000 after acquiring an additional 181,086 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

(Get Free Report

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.

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

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