The Descartes Systems Group (NASDAQ:DSGX) Given New $95.00 Price Target at Scotiabank

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target lowered by stock analysts at Scotiabank from $115.00 to $95.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price target would suggest a potential upside of 42.37% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. BMO Capital Markets decreased their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. Barclays raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $106.00 to $105.00 in a research note on Monday, January 12th. Finally, Raymond James Financial upgraded shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, The Descartes Systems Group currently has a consensus rating of “Buy” and a consensus price target of $114.20.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX traded up $0.37 during midday trading on Wednesday, reaching $66.73. 380,001 shares of the company’s stock were exchanged, compared to its average volume of 654,047. The firm has a market capitalization of $5.74 billion, a PE ratio of 37.82 and a beta of 0.75. The company’s 50 day simple moving average is $85.87 and its two-hundred day simple moving average is $92.86. The Descartes Systems Group has a 12 month low of $64.27 and a 12 month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The firm had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. During the same period last year, the firm posted $0.42 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, research analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DSGX. Mackenzie Financial Corp raised its position in The Descartes Systems Group by 2.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock valued at $400,969,000 after purchasing an additional 80,309 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after acquiring an additional 69,260 shares in the last quarter. Fiera Capital Corp lifted its stake in The Descartes Systems Group by 10.2% in the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock worth $280,123,000 after acquiring an additional 276,329 shares during the period. Franklin Resources Inc. grew its holdings in The Descartes Systems Group by 7.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,837,266 shares of the technology company’s stock worth $186,749,000 after acquiring an additional 120,137 shares in the last quarter. Finally, Bank of Montreal Can increased its position in The Descartes Systems Group by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 1,683,790 shares of the technology company’s stock valued at $158,507,000 after purchasing an additional 5,317 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.