Scotiabank Raises The Descartes Systems Group (NASDAQ:DSGX) Price Target to $120.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target upped by research analysts at Scotiabank from $104.00 to $120.00 in a note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s target price indicates a potential upside of 15.20% from the stock’s current price.

Several other brokerages have also weighed in on DSGX. Barclays lifted their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. BMO Capital Markets upped their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Finally, National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $106.17.

The Descartes Systems Group Stock Down 0.4 %

The Descartes Systems Group stock opened at $104.17 on Thursday. The business has a 50 day moving average price of $101.64 and a two-hundred day moving average price of $98.04. The Descartes Systems Group has a 12 month low of $69.59 and a 12 month high of $108.02. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 74.41 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, analysts expect that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DSGX. Westfield Capital Management Co. LP bought a new stake in shares of The Descartes Systems Group during the first quarter worth $47,481,000. Price T Rowe Associates Inc. MD raised its holdings in The Descartes Systems Group by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after purchasing an additional 278,796 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $20,608,000. Grandeur Peak Global Advisors LLC bought a new position in shares of The Descartes Systems Group in the 1st quarter valued at about $19,264,000. Finally, Triasima Portfolio Management inc. grew its position in shares of The Descartes Systems Group by 90.1% during the 2nd quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock worth $24,584,000 after buying an additional 120,325 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.