The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $123.40 Consensus PT from Brokerages

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $123.40.

A number of equities research analysts have weighed in on DSGX shares. CIBC decreased their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Barclays reduced their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, June 5th. Royal Bank Of Canada dropped their target price on The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, June 5th. Scotiabank boosted their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research note on Wednesday, March 26th. Finally, BMO Capital Markets reduced their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $99.22 on Thursday. The Descartes Systems Group has a one year low of $90.61 and a one year high of $124.31. The stock has a 50-day moving average of $106.95 and a 200 day moving average of $109.45. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 59.77 and a beta of 0.87.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. On average, equities analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Allworth Financial LP increased its holdings in The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock worth $77,000 after acquiring an additional 182 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in The Descartes Systems Group by 1,318.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,135 shares of the technology company’s stock valued at $129,000 after purchasing an additional 1,055 shares in the last quarter. Alberta Investment Management Corp boosted its position in shares of The Descartes Systems Group by 21.3% in the fourth quarter. Alberta Investment Management Corp now owns 103,687 shares of the technology company’s stock worth $11,780,000 after purchasing an additional 18,200 shares during the period. Bank of New York Mellon Corp boosted its position in shares of The Descartes Systems Group by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 125,019 shares of the technology company’s stock worth $14,202,000 after purchasing an additional 9,180 shares during the period. Finally, Impact Investors Inc purchased a new stake in shares of The Descartes Systems Group in the fourth quarter worth $488,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

About The Descartes Systems Group

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.