The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $98.44 Average Price Target from Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $98.44.

DSGX has been the topic of several recent research reports. TD Securities raised their target price on The Descartes Systems Group from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, March 7th. 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 report on Thursday, March 7th. Scotiabank boosted their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a research report on Thursday, March 7th. Barclays boosted their price objective on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 20th. Finally, StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th.

The Descartes Systems Group Stock Up 1.5 %

DSGX opened at $91.64 on Friday. The firm has a market cap of $7.81 billion, a PE ratio of 68.39 and a beta of 0.94. The business has a fifty day simple moving average of $89.72 and a 200-day simple moving average of $83.95. The Descartes Systems Group has a fifty-two week low of $69.59 and a fifty-two week high of $94.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping the consensus estimate 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 business had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $146.62 million. During the same quarter last year, the firm posted $0.34 earnings per share. The Descartes Systems Group’s revenue 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

Several institutional investors and hedge funds have recently made changes to their positions in DSGX. Raymond James & Associates boosted its stake in shares of The Descartes Systems Group by 6.4% during the 1st quarter. Raymond James & Associates now owns 108,261 shares of the technology company’s stock worth $9,909,000 after buying an additional 6,486 shares during the last quarter. Zeno Equity Partners LLP raised its holdings in shares of The Descartes Systems Group by 100.2% in the 1st quarter. Zeno Equity Partners LLP now owns 264,580 shares of the technology company’s stock valued at $24,217,000 after purchasing an additional 132,432 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of The Descartes Systems Group by 1.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 57,628 shares of the technology company’s stock valued at $5,213,000 after purchasing an additional 886 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in The Descartes Systems Group by 27.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 546,425 shares of the technology company’s stock valued at $50,014,000 after acquiring an additional 118,146 shares during the period. Finally, Park Place Capital Corp raised its holdings in The Descartes Systems Group by 48.5% in the 1st quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after acquiring an additional 219 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

About The Descartes Systems Group

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.