The Descartes Systems Group (NASDAQ:DSGX) Price Target Raised to $88.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price lifted by Barclays from $87.00 to $88.00 in a research note released on Thursday, Benzinga reports. They currently have an underweight rating on the technology company’s stock.

A number of other brokerages have also weighed in on DSGX. TD Securities increased their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the stock a buy rating in a research note on Thursday, May 30th. BMO Capital Markets raised their price objective on The Descartes Systems Group from $94.00 to $100.00 and gave the stock a market perform rating in a report on Thursday, May 30th. Stephens increased their target price on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an overweight rating in a research report on Thursday, May 30th. 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, Scotiabank increased their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a sector outperform rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of Moderate Buy and a consensus price target of $103.00.

The Descartes Systems Group Stock Down 0.7 %

Shares of DSGX opened at $94.62 on Thursday. The Descartes Systems Group has a 52-week low of $69.59 and a 52-week high of $104.71. The company has a market capitalization of $8.08 billion, a PE ratio of 67.59 and a beta of 0.98. The company has a 50-day simple moving average of $99.05 and a 200-day simple moving average of $95.09.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same period last year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, research analysts anticipate that The Descartes Systems Group will post 1.7 EPS for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp grew its stake in The Descartes Systems Group by 13.0% during the 2nd quarter. Truist Financial Corp now owns 8,458 shares of the technology company’s stock valued at $819,000 after purchasing an additional 975 shares in the last quarter. Fiera Capital Corp grew its position in shares of The Descartes Systems Group by 3.3% during the second quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock worth $248,024,000 after buying an additional 81,263 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in The Descartes Systems Group by 28.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after acquiring an additional 279 shares in the last quarter. Creative Planning lifted its stake in The Descartes Systems Group by 70.5% during the second quarter. Creative Planning now owns 12,762 shares of the technology company’s stock worth $1,236,000 after purchasing an additional 5,275 shares during the last quarter. Finally, Ascent Group LLC acquired a new position in The Descartes Systems Group in the second quarter valued at approximately $275,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Company Profile

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.