The Descartes Systems Group (NASDAQ:DSGX) Price Target Lowered to $127.00 at CIBC

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price cut by investment analysts at CIBC from $128.00 to $127.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the technology company’s stock. CIBC’s price target would suggest a potential upside of 28.32% from the company’s current price.

Several other equities analysts also recently weighed in on the company. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays cut their target price on shares of 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. Scotiabank lifted their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. BMO Capital Markets reduced their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $120.33.

The Descartes Systems Group Stock Performance

Shares of DSGX traded down $11.95 during mid-day trading on Thursday, hitting $98.97. 721,133 shares of the company’s stock were exchanged, compared to its average volume of 242,592. The Descartes Systems Group has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 62.28 and a beta of 0.99. The stock’s 50-day moving average is $114.83 and its 200-day moving average is $110.17.

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

Hedge Funds Weigh In On The Descartes Systems Group

Several hedge funds have recently made changes to their positions in DSGX. Mather Group LLC. boosted its holdings in The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after acquiring an additional 132 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group in the fourth quarter worth $43,000. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group in the 4th quarter worth about $54,000. Finally, GAMMA Investing LLC boosted its position in The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares during the last quarter. 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.