The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) had its price target raised by Canaccord Genuity Group from $74.00 to $77.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the technology company's stock.
DSGX has been the subject of a number of other reports. Royal Bank of Canada decreased their target price on The Descartes Systems Group from $100.00 to $85.00 and set an outperform rating for the company in a research report on Friday, May 27th. CIBC cut The Descartes Systems Group from a sector outperform rating to a neutral rating and decreased their price objective for the company from $89.00 to $71.00 in a report on Monday, June 27th. Raymond James reduced their price target on The Descartes Systems Group from $83.00 to $71.00 and set a market perform rating for the company in a report on Thursday, June 2nd. Barclays upped their price target on The Descartes Systems Group from $62.00 to $72.00 and gave the company an overweight rating in a research report on Tuesday, August 16th. Finally, Stephens lowered their price objective on The Descartes Systems Group to $80.00 in a research report on Friday, June 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of Moderate Buy and an average price target of $76.22.
Get The Descartes Systems Group alerts:The Descartes Systems Group Stock Up 2.0 %
Shares of DSGX stock opened at $68.84 on Thursday. The Descartes Systems Group has a twelve month low of $56.19 and a twelve month high of $91.39. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 64.94 and a beta of 1.03. The business's fifty day moving average is $68.45 and its 200 day moving average is $66.53.
The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last posted its earnings results on Wednesday, September 7th. The technology company reported $0.27 earnings per share for the quarter, meeting analysts' consensus estimates of $0.27. The Descartes Systems Group had a return on equity of 9.05% and a net margin of 19.69%. The company had revenue of $123.01 million for the quarter, compared to the consensus estimate of $118.72 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. The Descartes Systems Group's revenue was up 17.6% on a year-over-year basis. Equities research analysts expect that The Descartes Systems Group will post 1.1 earnings per share for the current fiscal year.Institutional Investors Weigh In On The Descartes Systems Group
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in shares of The Descartes Systems Group by 7.2% during the 2nd quarter. Van ECK Associates Corp now owns 2,217 shares of the technology company's stock valued at $138,000 after acquiring an additional 149 shares during the period. Pendal Group Ltd raised its holdings in The Descartes Systems Group by 1.7% in the 2nd quarter. Pendal Group Ltd now owns 10,832 shares of the technology company's stock valued at $673,000 after acquiring an additional 176 shares during the last quarter. New Century Advisors LLC raised its holdings in The Descartes Systems Group by 74.1% in the 1st quarter. New Century Advisors LLC now owns 416 shares of the technology company's stock valued at $30,000 after acquiring an additional 177 shares during the last quarter. MGO One Seven LLC raised its holdings in The Descartes Systems Group by 5.9% in the 2nd quarter. MGO One Seven LLC now owns 3,411 shares of the technology company's stock valued at $212,000 after acquiring an additional 190 shares during the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of The Descartes Systems Group by 4.0% during the 2nd quarter. Raymond James Trust N.A. now owns 5,143 shares of the technology company's stock valued at $319,000 after buying an additional 196 shares during the period. 80.28% of the stock is currently 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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