The Descartes Systems Group Inc. (NASDAQ:DSGX) Receives $86.56 Consensus Price Target from Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) have been given a consensus recommendation of “Buy” by the eleven analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $86.56.

A number of research analysts recently issued reports on the company. StockNews.com assumed coverage on The Descartes Systems Group in a research note on Thursday, March 31st. They set a “buy” rating on the stock. CIBC upgraded The Descartes Systems Group to a “buy” rating and set a $89.00 price target on the stock in a research note on Monday, January 31st. Raymond James set a $83.00 price target on The Descartes Systems Group and gave the stock a “market perform” rating in a research note on Thursday, March 3rd. Zacks Investment Research upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Monday, March 7th. Finally, Barclays dropped their price target on The Descartes Systems Group from $78.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Friday.

Shares of NASDAQ DSGX traded down $2.08 during midday trading on Friday, hitting $59.13. 9,385 shares of the company’s stock were exchanged, compared to its average volume of 210,413. The Descartes Systems Group has a twelve month low of $56.19 and a twelve month high of $91.39. The company has a market cap of $5.01 billion, a PE ratio of 61.21 and a beta of 1.12. The firm’s fifty day simple moving average is $66.34 and its 200-day simple moving average is $72.53.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last issued its earnings results on Wednesday, March 2nd. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The Descartes Systems Group had a return on equity of 8.86% and a net margin of 20.32%. The business had revenue of $112.40 million for the quarter, compared to analyst estimates of $110.20 million. During the same quarter last year, the company earned $0.20 EPS. On average, analysts anticipate that The Descartes Systems Group will post 1.12 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC grew its stake in shares of The Descartes Systems Group by 22.2% in the 1st quarter. Neuberger Berman Group LLC now owns 441,867 shares of the technology company’s stock valued at $32,373,000 after purchasing an additional 80,279 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of The Descartes Systems Group by 46.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,803,787 shares of the technology company’s stock valued at $132,240,000 after buying an additional 570,744 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of The Descartes Systems Group by 26.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,442 shares of the technology company’s stock valued at $1,205,000 after buying an additional 3,473 shares during the period. Jane Street Group LLC lifted its holdings in shares of The Descartes Systems Group by 1,008.1% in the 1st quarter. Jane Street Group LLC now owns 143,162 shares of the technology company’s stock valued at $10,488,000 after buying an additional 130,242 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of The Descartes Systems Group by 44.8% in the 1st quarter. Royal Bank of Canada now owns 1,177,943 shares of the technology company’s stock valued at $86,295,000 after buying an additional 364,486 shares during the period. Institutional investors own 72.41% of the company’s stock.

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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