Royal Bank of Canada Reaffirms “Outperform” Rating for The Descartes Systems Group (NASDAQ:DSGX)

Royal Bank of Canada restated their outperform rating on shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a research report report published on Thursday morning, Benzinga reports. They currently have a $115.00 price target on the technology company’s stock.

Other research analysts also recently issued research reports about the company. Barclays increased their price target on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an underweight rating in a research note on Thursday. Stephens lifted 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 note on Thursday, May 30th. Scotiabank boosted their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a sector outperform rating in a research report on Friday, May 31st. Redburn Atlantic began 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 objective for the company. Finally, Raymond James boosted their target price on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the company a market perform rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $103.00.

The Descartes Systems Group Stock Performance

DSGX opened at $94.62 on Thursday. The firm has a market cap of $8.08 billion, a P/E ratio of 67.59 and a beta of 0.98. The Descartes Systems Group has a fifty-two week low of $69.59 and a fifty-two week high of $104.71. The firm has a 50-day moving average of $99.05 and a 200 day moving average of $95.09.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued 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 return on equity of 9.96% and a net margin of 20.62%. The company had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities research analysts predict that The Descartes Systems Group will post 1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently added to or reduced their stakes in DSGX. Fifth Third Bancorp increased its position in shares of The Descartes Systems Group by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,377 shares of the technology company’s stock worth $218,000 after purchasing an additional 123 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of The Descartes Systems Group by 4.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after buying an additional 158 shares in the last quarter. Bank of Nova Scotia Trust Co. lifted its holdings in shares of The Descartes Systems Group by 0.3% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 51,532 shares of the technology company’s stock worth $4,332,000 after acquiring an additional 173 shares during the last quarter. Prudential PLC grew its position in The Descartes Systems Group by 1.8% in the fourth quarter. Prudential PLC now owns 10,778 shares of the technology company’s stock worth $906,000 after acquiring an additional 193 shares in the last quarter. Finally, Park Place Capital Corp increased its stake in The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after acquiring an additional 212 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

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.