The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $84.83 Consensus Price Target from Analysts

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) has earned an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $85.00.

DSGX has been the topic of a number of research analyst reports. Scotiabank reaffirmed a “sector outperform” rating and set a $86.00 price target on shares of The Descartes Systems Group in a report on Friday, September 8th. Barclays upped their price objective on The Descartes Systems Group from $62.00 to $65.00 in a research report on Thursday, June 1st. TD Securities upped their price objective on The Descartes Systems Group from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, June 1st. StockNews.com began coverage on The Descartes Systems Group in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, SpectralCast reiterated a “maintains” rating on shares of The Descartes Systems Group in a research report on Thursday, June 1st.

The Descartes Systems Group Trading Up 0.4 %

The Descartes Systems Group stock opened at $74.98 on Friday. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 57.24 and a beta of 1.02. The Descartes Systems Group has a 12 month low of $61.26 and a 12 month high of $82.02. The business’s fifty day simple moving average is $75.78 and its two-hundred day simple moving average is $77.02.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business had revenue of $143.39 million for the quarter, compared to the consensus estimate of $139.95 million. The Descartes Systems Group had a net margin of 21.60% and a return on equity of 10.40%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 earnings per share. On average, equities research analysts predict that The Descartes Systems Group will post 1.31 EPS for the current year.

Institutional Trading of The Descartes Systems Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in The Descartes Systems Group by 20.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,948,727 shares of the technology company’s stock worth $762,578,000 after buying an additional 1,834,084 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in The Descartes Systems Group by 0.5% in the first quarter. Conestoga Capital Advisors LLC now owns 3,004,274 shares of the technology company’s stock worth $242,175,000 after buying an additional 16,167 shares in the last quarter. Vanguard Group Inc. increased its position in The Descartes Systems Group by 3.2% in the third quarter. Vanguard Group Inc. now owns 2,892,052 shares of the technology company’s stock worth $183,732,000 after buying an additional 88,518 shares in the last quarter. Durable Capital Partners LP increased its position in The Descartes Systems Group by 60.6% in the first quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock worth $189,381,000 after buying an additional 975,727 shares in the last quarter. Finally, Fiera Capital Corp increased its position in The Descartes Systems Group by 1.9% in the second quarter. Fiera Capital Corp now owns 2,098,240 shares of the technology company’s stock worth $168,316,000 after buying an additional 38,815 shares in the last quarter. Hedge funds and other institutional investors own 76.73% of the company’s stock.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.