Royal Bank of Canada Forecasts Strong Price Appreciation for The Descartes Systems Group (NASDAQ:DSGX) Stock

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective raised by investment analysts at Royal Bank of Canada from $115.00 to $133.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 12.46% from the company’s previous close.

A number of other research analysts also recently issued reports on DSGX. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Scotiabank raised their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. Finally, National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average target price of $110.75.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX traded up $1.99 during midday trading on Friday, reaching $118.26. The company had a trading volume of 61,960 shares, compared to its average volume of 154,185. The stock has a market capitalization of $10.11 billion, a P/E ratio of 79.91 and a beta of 0.97. The stock’s fifty day moving average price is $107.91 and its 200-day moving average price is $101.22. The Descartes Systems Group has a one year low of $79.21 and a one year high of $118.49.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period in the prior year, the business earned $0.32 EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts forecast that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC boosted its stake in The Descartes Systems Group by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock valued at $326,238,000 after purchasing an additional 52,485 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of The Descartes Systems Group by 0.8% in the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after buying an additional 19,817 shares during the period. Mackenzie Financial Corp boosted its stake in The Descartes Systems Group by 4.5% during the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after buying an additional 91,301 shares in the last quarter. Bank of Montreal Can grew its holdings in The Descartes Systems Group by 1.4% during the second quarter. Bank of Montreal Can now owns 1,545,027 shares of the technology company’s stock worth $147,434,000 after acquiring an additional 21,105 shares during the period. Finally, Geneva Capital Management LLC raised its position in The Descartes Systems Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock worth $152,037,000 after acquiring an additional 19,002 shares in the last quarter. 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.