The Descartes Systems Group (NASDAQ:DSGX) PT Set at $125.00 by Royal Bank Of Canada

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) has been assigned a $125.00 price objective by research analysts at Royal Bank Of Canada in a research note issued on Friday, BayStreet reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 58.45% from the stock’s previous close.

Several other brokerages have also commented on DSGX. Raymond James Financial cut their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce lifted their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 4th. Loop Capital reissued a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. Finally, National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.46.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX traded down $1.86 on Friday, hitting $78.89. 339,513 shares of the company’s stock were exchanged, compared to its average volume of 610,187. The firm’s 50-day moving average is $75.05 and its 200 day moving average is $72.18. The company has a market capitalization of $6.75 billion, a PE ratio of 39.45 and a beta of 0.62. The Descartes Systems Group has a 1-year low of $62.56 and a 1-year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, analysts anticipate that The Descartes Systems Group will post 2.34 EPS for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Institutional investors have recently added to or reduced their stakes in the business. AXA S.A. grew its position in shares of The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after buying an additional 130 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its position in shares of The Descartes Systems Group by 0.3% during the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock worth $5,207,000 after acquiring an additional 140 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of The Descartes Systems Group by 4.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after acquiring an additional 143 shares during the period. Federated Hermes Inc. increased its holdings in shares of The Descartes Systems Group by 19.2% in the 4th quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company’s stock worth $96,000 after acquiring an additional 177 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

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.