The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) had its price target upped by Canaccord Genuity Group from $74.00 to $77.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the technology company's stock.
DSGX has been the subject of several other reports. StockNews.com downgraded shares of The Descartes Systems Group from a buy rating to a hold rating in a research note on Thursday, September 1st. CIBC downgraded shares of The Descartes Systems Group from a sector outperform rating to a neutral rating and decreased their target price for the company from $89.00 to $71.00 in a research note on Monday, June 27th. Raymond James cut their price target on shares of The Descartes Systems Group from $83.00 to $71.00 and set a market perform rating on the stock in a report on Thursday, June 2nd. Royal Bank of Canada cut their price target on shares of The Descartes Systems Group from $100.00 to $85.00 and set an outperform rating on the stock in a report on Friday, May 27th. Finally, TD Securities cut their price target on shares of The Descartes Systems Group from $95.00 to $84.00 and set a buy rating on the stock in a report on Thursday, June 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $77.60.
Get The Descartes Systems Group alerts:The Descartes Systems Group Stock Down 2.6 %
DSGX opened at $67.46 on Thursday. The company has a market cap of $5.72 billion, a P/E ratio of 63.64 and a beta of 1.03. The company has a 50 day moving average of $68.34 and a two-hundred day moving average of $66.57. The Descartes Systems Group has a 52-week low of $56.19 and a 52-week high of $91.39.
The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last announced its earnings results on Wednesday, September 7th. The technology company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $123.01 million during the quarter, compared to the consensus estimate of $118.72 million. The Descartes Systems Group had a net margin of 20.57% and a return on equity of 9.17%. The business's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. Research analysts anticipate that The Descartes Systems Group will post 1.1 earnings per share for the current year.Institutional Trading of The Descartes Systems Group
A number of institutional investors and hedge funds have recently modified their holdings of DSGX. Bishop Rock Capital L.P. raised its holdings in shares of The Descartes Systems Group by 3,007.3% during the second quarter. Bishop Rock Capital L.P. now owns 2,578,531 shares of the technology company's stock worth $41,549,000 after purchasing an additional 2,495,547 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of The Descartes Systems Group by 21.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 12,874,995 shares of the technology company's stock worth $798,969,000 after acquiring an additional 2,261,747 shares during the last quarter. Fiera Capital Corp grew its position in shares of The Descartes Systems Group by 129.4% during the second quarter. Fiera Capital Corp now owns 1,800,009 shares of the technology company's stock worth $111,709,000 after acquiring an additional 1,015,364 shares during the last quarter. Durable Capital Partners LP grew its position in shares of The Descartes Systems Group by 60.6% during the first quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company's stock worth $189,381,000 after acquiring an additional 975,727 shares during the last quarter. Finally, Wasatch Advisors Inc. bought a new position in shares of The Descartes Systems Group during the first quarter worth about $66,482,000. 80.28% of the stock is owned by institutional investors and hedge funds.
The Descartes Systems Group Company Profile
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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.
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