The Descartes Systems Group (NASDAQ:DSGX) Price Target Increased to $110.00 by Analysts at Stephens

The Descartes Systems Group (NASDAQ:DSGXFree Report) (TSE:DSG) had its price objective boosted by Stephens from $107.00 to $110.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. Stephens currently has an overweight rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of The Descartes Systems Group from a buy rating to a hold rating in a research report on Friday, May 3rd. Redburn Atlantic initiated coverage on shares of The Descartes Systems Group in a report on Tuesday, May 14th. They issued a neutral rating and a $90.00 price target on the stock. TD Securities raised their price target on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the company a buy rating in a report on Thursday, March 7th. Royal Bank of Canada raised their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company an outperform rating in a report on Friday, May 24th. Finally, William Blair restated an outperform rating on shares of The Descartes Systems Group in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $102.00.

Read Our Latest Stock Analysis on DSGX

The Descartes Systems Group Stock Performance

DSGX opened at $92.33 on Thursday. The company’s 50 day simple moving average is $94.03 and its 200 day simple moving average is $88.63. The Descartes Systems Group has a 1 year low of $69.59 and a 1 year high of $100.69. The stock has a market capitalization of $7.88 billion, a PE ratio of 65.95 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) last released its earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.02). The Descartes Systems Group had a return on equity of 10.10% and a net margin of 20.62%. The company had revenue of $151.30 million during the quarter, compared to analyst estimates of $151.80 million. During the same period in the prior year, the business posted $0.34 earnings per share. The Descartes Systems Group’s revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Hedge funds have recently made changes to their positions in the company. TD Asset Management Inc raised its stake in shares of The Descartes Systems Group by 10.5% during the fourth quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock valued at $65,201,000 after purchasing an additional 73,410 shares during the period. Mackenzie Financial Corp increased its stake in shares of The Descartes Systems Group by 8.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after buying an additional 154,110 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of The Descartes Systems Group by 14.8% in the fourth quarter. Russell Investments Group Ltd. now owns 253,893 shares of the technology company’s stock worth $21,420,000 after buying an additional 32,794 shares during the last quarter. Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 5.6% in the third quarter. Fiera Capital Corp now owns 2,215,851 shares of the technology company’s stock worth $163,085,000 after buying an additional 117,611 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of The Descartes Systems Group by 37.7% in the third quarter. Toronto Dominion Bank now owns 109,676 shares of the technology company’s stock worth $8,048,000 after buying an additional 30,010 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

About The Descartes Systems Group

(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.

Further Reading

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

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