Scotiabank Issues Positive Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective boosted by Scotiabank from $125.00 to $127.00 in a research note issued to investors on Wednesday morning, MarketBeat.com reports. Scotiabank currently has a sector outperform rating on the technology company’s stock.

A number of other research analysts have also weighed in on DSGX. Royal Bank of Canada reduced their price objective on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. TD Securities boosted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays cut their target price on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Loop Capital began coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. Finally, CIBC reduced their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $120.50.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $103.59 on Wednesday. The business’s fifty day moving average price is $111.17 and its 200-day moving average price is $110.31. The Descartes Systems Group has a one year low of $87.20 and a one year high of $124.31. The stock has a market capitalization of $8.87 billion, a PE ratio of 65.15 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. As a group, equities analysts expect that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DSGX. Intech Investment Management LLC boosted its holdings in shares of The Descartes Systems Group by 41.6% in the 3rd quarter. Intech Investment Management LLC now owns 10,671 shares of the technology company’s stock worth $1,099,000 after purchasing an additional 3,134 shares in the last quarter. FMR LLC boosted its stake in The Descartes Systems Group by 2.8% in the third quarter. FMR LLC now owns 150,654 shares of the technology company’s stock worth $15,503,000 after buying an additional 4,067 shares in the last quarter. Quantbot Technologies LP purchased a new stake in The Descartes Systems Group in the third quarter worth approximately $352,000. BNP Paribas Financial Markets bought a new position in The Descartes Systems Group during the third quarter valued at approximately $926,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of The Descartes Systems Group during the third quarter worth approximately $2,404,000. Institutional investors 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.