Morgan Stanley Forecasts Strong Price Appreciation for The Descartes Systems Group (NASDAQ:DSGX) Stock

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price lifted by analysts at Morgan Stanley from $100.00 to $110.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 17.68% from the company’s previous close.

Several other research analysts have also commented on the company. TD Cowen reiterated a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Zacks Research raised The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. BMO Capital Markets cut their target price on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Finally, CIBC dropped their price objective on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $118.45.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $93.47 on Tuesday. The stock has a 50 day moving average price of $89.18 and a 200-day moving average price of $98.05. The Descartes Systems Group has a one year low of $78.88 and a one year high of $124.31. The company has a market capitalization of $8.04 billion, a P/E ratio of 52.81 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The company had revenue of $186.78 million for the quarter, compared to the consensus estimate of $184.24 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The Descartes Systems Group’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts predict that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake 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 valued at $719,370,000 after acquiring an additional 936,718 shares during the period. Mackenzie Financial Corp raised its position in The Descartes Systems Group by 2.1% during the second quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock worth $400,969,000 after acquiring an additional 80,309 shares during the period. Vanguard Group Inc. lifted its holdings in The Descartes Systems Group by 3.3% during the third quarter. Vanguard Group Inc. now owns 3,533,392 shares of the technology company’s stock valued at $332,697,000 after purchasing an additional 111,492 shares in the last quarter. Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 10.2% during the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock worth $280,123,000 after purchasing an additional 276,329 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in The Descartes Systems Group by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company’s stock worth $196,412,000 after buying an additional 181,086 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

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.