Barclays Boosts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $62.00

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) had its price objective upped by equities researchers at Barclays from $61.00 to $62.00 in a note issued to investors on Friday, The Fly reports. Barclays‘s target price points to a potential downside of 1.95% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Raymond James decreased their price objective on The Descartes Systems Group from $83.00 to $71.00 and set a “market perform” rating on the stock in a report on Thursday. TD Securities decreased their price target on The Descartes Systems Group from $95.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada decreased their price target on The Descartes Systems Group from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, May 27th. Zacks Investment Research cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, StockNews.com started coverage on The Descartes Systems Group in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $80.22.

Shares of NASDAQ DSGX opened at $63.23 on Friday. The Descartes Systems Group has a 52 week low of $56.19 and a 52 week high of $91.39. The business has a 50-day simple moving average of $63.72 and a two-hundred day simple moving average of $71.26. The company has a market cap of $5.36 billion, a P/E ratio of 59.65 and a beta of 1.12.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last issued its earnings results on Wednesday, June 1st. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The Descartes Systems Group had a return on equity of 9.24% and a net margin of 20.57%. The business had revenue of $116.40 million during the quarter, compared to the consensus estimate of $113.97 million. During the same quarter last year, the company earned $0.21 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts predict that The Descartes Systems Group will post 1.12 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC boosted its holdings in The Descartes Systems Group by 22.2% in the first quarter. Neuberger Berman Group LLC now owns 441,867 shares of the technology company’s stock worth $32,373,000 after acquiring an additional 80,279 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in The Descartes Systems Group by 46.3% in the first quarter. The Manufacturers Life Insurance Company now owns 1,803,787 shares of the technology company’s stock worth $132,240,000 after acquiring an additional 570,744 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of The Descartes Systems Group by 26.8% during the first quarter. BNP Paribas Arbitrage SA now owns 16,442 shares of the technology company’s stock valued at $1,205,000 after purchasing an additional 3,473 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of The Descartes Systems Group by 1,008.1% during the first quarter. Jane Street Group LLC now owns 143,162 shares of the technology company’s stock valued at $10,488,000 after purchasing an additional 130,242 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of The Descartes Systems Group by 44.8% during the first quarter. Royal Bank of Canada now owns 1,177,943 shares of the technology company’s stock valued at $86,295,000 after purchasing an additional 364,486 shares in the last quarter. 72.41% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Company Profile (Get Rating)

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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