The Descartes Systems Group (NASDAQ:DSGX) PT Set at $95.00 by National Bank Financial

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) received a $95.00 price objective from stock analysts at National Bank Financial in a research note issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the technology company’s stock. National Bank Financial’s price target points to a potential upside of 33.82% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. Raymond James Financial reduced their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Loop Capital reissued a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Weiss Ratings restated a “sell (d+)” rating on shares of The Descartes Systems Group in a research note on Tuesday, July 7th. Finally, Canadian Imperial Bank of Commerce upped their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $70.99 on Monday. The company’s 50-day moving average is $71.68 and its 200 day moving average is $72.69. The company has a market capitalization of $6.08 billion, a P/E ratio of 35.49 and a beta of 0.64. The Descartes Systems Group has a fifty-two week low of $62.56 and a fifty-two week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. As a group, research analysts predict that The Descartes Systems Group will post 2.37 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of large investors have recently made changes to their positions in DSGX. AXA S.A. grew its stake in The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after purchasing an additional 130 shares during the period. Reynders McVeigh Capital Management LLC lifted its position in The Descartes Systems Group by 0.3% during the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock valued at $5,207,000 after buying an additional 140 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of The Descartes Systems Group by 4.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock valued at $368,000 after buying an additional 143 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of The Descartes Systems Group by 18.7% during the 4th quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock valued at $92,000 after buying an additional 165 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of The Descartes Systems Group by 19.2% in the 4th quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company’s stock worth $96,000 after buying an additional 177 shares during the period. 77.73% of the stock is owned by institutional investors.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.