The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $105.45 Average Target Price from Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $105.4545.

A number of research analysts have weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Barclays dropped their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. Zacks Research lowered shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Scotiabank dropped their price target on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 4th. Finally, Morgan Stanley lowered their price target on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently bought and sold shares of DSGX. Goldman Sachs Group Inc. grew its stake in The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after buying an additional 98,054 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of The Descartes Systems Group by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after purchasing an additional 660 shares in the last quarter. Amundi boosted its stake in shares of The Descartes Systems Group by 74.5% in the 2nd quarter. Amundi now owns 82,319 shares of the technology company’s stock valued at $8,360,000 after purchasing an additional 35,132 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of The Descartes Systems Group by 25.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after purchasing an additional 254 shares in the last quarter. Finally, AXA S.A. boosted its stake in shares of The Descartes Systems Group by 2.0% in the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 2.4%

Shares of NASDAQ DSGX opened at $67.22 on Friday. The firm has a market cap of $5.78 billion, a PE ratio of 36.14 and a beta of 0.65. The Descartes Systems Group has a 12-month low of $62.56 and a 12-month high of $117.35. The company’s fifty day simple moving average is $71.11 and its 200 day simple moving average is $78.15.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The firm had revenue of $192.37 million for the quarter, compared to analyst estimates of $188.09 million. During the same period last year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts predict that The Descartes Systems Group will post 2.62 earnings per share for the current year.

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.