The Descartes Systems Group (NASDAQ:DSGX) Given New $77.00 Price Target at Canaccord Genuity Group

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) had its target price raised by Canaccord Genuity Group from $74.00 to $77.00 in a research note issued to investors on Thursday, The Fly reports.

Several other research firms have also issued reports on DSGX. Stephens decreased their price target on shares of The Descartes Systems Group to $80.00 in a research report on Friday, June 3rd. Raymond James lowered their price objective on shares of The Descartes Systems Group from $83.00 to $71.00 and set a market perform rating on the stock in a research report on Thursday, June 2nd. Royal Bank of Canada lowered their price objective on shares of The Descartes Systems Group from $100.00 to $85.00 and set an outperform rating on the stock in a research report on Friday, May 27th. Barclays lifted their price objective on shares of The Descartes Systems Group from $62.00 to $72.00 and gave the stock an overweight rating in a research report on Tuesday, August 16th. Finally, TD Securities lowered their price objective on shares of The Descartes Systems Group from $95.00 to $84.00 and set a buy rating on the stock in a research report on Thursday, June 2nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group has a consensus rating of Moderate Buy and an average target price of $77.60.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $67.46 on Thursday. The Descartes Systems Group has a 12 month low of $56.19 and a 12 month high of $91.39. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 63.64 and a beta of 1.03. The stock’s 50 day moving average price is $68.34 and its 200 day moving average price is $66.57.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last announced its earnings results on Wednesday, September 7th. The technology company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $123.01 million for the quarter, compared to analysts’ expectations of $118.72 million. The Descartes Systems Group had a return on equity of 9.17% and a net margin of 20.57%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share. On average, sell-side analysts expect that The Descartes Systems Group will post 1.1 EPS for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently modified their holdings of DSGX. Sageworth Trust Co of South Dakota lifted its stake in shares of The Descartes Systems Group by 140.6% in the 2nd quarter. Sageworth Trust Co of South Dakota now owns 450 shares of the technology company’s stock valued at $28,000 after purchasing an additional 263 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of The Descartes Systems Group by 270.8% in the 2nd quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock valued at $28,000 after purchasing an additional 325 shares during the last quarter. New Century Advisors LLC lifted its stake in shares of The Descartes Systems Group by 74.1% in the 1st quarter. New Century Advisors LLC now owns 416 shares of the technology company’s stock valued at $30,000 after purchasing an additional 177 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of The Descartes Systems Group by 8,814.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 624 shares of the technology company’s stock valued at $38,000 after purchasing an additional 617 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

The Descartes Systems Group Company Profile

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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.

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

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