The Descartes Systems Group (NASDAQ:DSGX) Given a $108.00 Price Target by Canaccord Genuity Group Analysts

Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a report released on Thursday morning, BayStreet.CA reports. The firm currently has a buy rating on the technology company’s stock.

DSGX has been the topic of several other research reports. Royal Bank of Canada restated an outperform rating and set a $115.00 target price on shares of The Descartes Systems Group in a report on Thursday. Raymond James upped their target price on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a market perform rating in a research report on Friday, May 31st. Barclays raised their target price on The Descartes Systems Group from $87.00 to $88.00 and gave the company an underweight rating in a report on Thursday. CIBC upped their price target on The Descartes Systems Group from $101.00 to $108.00 and gave the stock an outperform rating in a report on Thursday, May 30th. Finally, Scotiabank lifted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a sector outperform rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group has an average rating of Moderate Buy and a consensus target price of $103.00.

The Descartes Systems Group Trading Down 0.7 %

DSGX stock opened at $94.62 on Thursday. The company has a market cap of $8.08 billion, a PE ratio of 67.59 and a beta of 0.98. The stock has a 50-day moving average price of $99.05 and a two-hundred day moving average price of $95.09. The Descartes Systems Group has a 12-month low of $69.59 and a 12-month high of $104.71.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The firm had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities analysts forecast that The Descartes Systems Group will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. bought a new position in shares of The Descartes Systems Group during the fourth quarter worth about $27,000. Central Pacific Bank Trust Division acquired a new stake in The Descartes Systems Group during the first quarter valued at approximately $28,000. Accent Capital Management LLC bought a new position in The Descartes Systems Group during the 4th quarter worth approximately $32,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in The Descartes Systems Group by 703.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after buying an additional 429 shares during the last quarter. Finally, Park Place Capital Corp grew its position in shares of 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 worth $61,000 after acquiring an additional 219 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Company Profile

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.