The Descartes Systems Group (NASDAQ:DSGX) Upgraded by CIBC to “Sector Outperform”

CIBC upgraded shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a neutral rating to a sector outperform rating in a research report report published on Tuesday morning, MarketBeat reports. They currently have $101.00 price objective on the technology company’s stock, up from their previous price objective of $96.50.

Other analysts also recently issued reports about the company. Stephens boosted their target price on The Descartes Systems Group from $105.00 to $107.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. BMO Capital Markets boosted their target price on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. TD Securities boosted their target price on The Descartes Systems Group from $95.00 to $110.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Raymond James boosted their target price on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. Finally, Wolfe Research upgraded The Descartes Systems Group from a peer perform rating to an outperform rating and set a $95.00 target price on the stock in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $98.44.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $90.90 on Tuesday. The Descartes Systems Group has a 1-year low of $69.59 and a 1-year high of $94.54. The company has a market cap of $7.74 billion, a PE ratio of 67.84 and a beta of 0.94. The stock’s 50 day moving average price is $89.62 and its 200 day moving average price is $83.56.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The firm had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. During the same period in the previous year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, equities research analysts anticipate that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. acquired a new position in shares of The Descartes Systems Group in the fourth quarter worth $27,000. Accent Capital Management LLC acquired a new position in The Descartes Systems Group in the fourth quarter valued at $32,000. Captrust Financial Advisors increased its stake in The Descartes Systems Group by 270.8% in the second quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock valued at $28,000 after purchasing an additional 325 shares during the last quarter. Operose Advisors LLC acquired a new position in The Descartes Systems Group in the third quarter valued at $35,000. Finally, Fred Alger Management LLC acquired a new position in The Descartes Systems Group in the third quarter valued at $30,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its 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; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.