The Descartes Systems Group (NASDAQ:DSGX) Price Target Raised to $133.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price raised by Royal Bank of Canada from $115.00 to $133.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other analysts have also recently weighed in on the stock. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $88.00 to $125.00 in a report on Friday, November 15th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a report on Thursday, September 26th. StockNews.com raised The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, BMO Capital Markets increased their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $110.75.

The Descartes Systems Group Stock Up 0.5 %

Shares of DSGX stock opened at $116.87 on Friday. The firm has a 50 day moving average of $108.20 and a two-hundred day moving average of $101.42. The stock has a market capitalization of $9.99 billion, a PE ratio of 78.97 and a beta of 0.97. The Descartes Systems Group has a 52 week low of $79.21 and a 52 week high of $118.49.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company 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 business posted $0.32 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. Analysts expect that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds have recently modified their holdings of the business. Ellsworth Advisors LLC acquired a new stake in The Descartes Systems Group during the 2nd quarter worth $527,000. Plato Investment Management Ltd purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at about $2,308,000. Massachusetts Financial Services Co. MA boosted its stake in shares of The Descartes Systems Group by 2.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after buying an additional 9,768 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of The Descartes Systems Group by 8.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 593,906 shares of the technology company’s stock worth $57,514,000 after buying an additional 47,481 shares during the last quarter. Finally, Fiera Capital Corp increased its position in The Descartes Systems Group by 3.3% in the 2nd quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock valued at $248,024,000 after acquiring an additional 81,263 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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.