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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target boosted by Scotiabank from $104.00 to $120.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a sector outperform rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on DSGX. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. BMO Capital Markets raised their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Barclays raised their price target on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a report on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.17.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX traded up $0.62 during midday trading on Thursday, reaching $105.16. 18,818 shares of the stock traded hands, compared to its average volume of 151,277. The Descartes Systems Group has a 12-month low of $69.59 and a 12-month high of $108.02. The business has a 50-day moving average of $101.56 and a two-hundred day moving average of $97.94. The stock has a market capitalization of $8.98 billion, a PE ratio of 74.67 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted 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 for the quarter, compared to analysts’ expectations of $160.17 million. During the same period in the previous year, the company earned $0.32 EPS. The company’s revenue was up 14.0% on a year-over-year basis. Research analysts anticipate that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSGX. Legacy Wealth Asset Management LLC lifted its position in shares of The Descartes Systems Group by 3.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock worth $388,000 after buying an additional 137 shares during the last quarter. Argent Capital Management LLC raised its position in The Descartes Systems Group by 7.7% in the 3rd quarter. Argent Capital Management LLC now owns 50,681 shares of the technology company’s stock valued at $5,218,000 after purchasing an additional 3,622 shares during the last quarter. Signaturefd LLC raised its position in The Descartes Systems Group by 12.1% in the 3rd quarter. Signaturefd LLC now owns 2,425 shares of the technology company’s stock valued at $250,000 after purchasing an additional 261 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in The Descartes Systems Group by 26.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,514 shares of the technology company’s stock valued at $156,000 after purchasing an additional 320 shares during the last quarter. Finally, Whittier Trust Co. raised its position in The Descartes Systems Group by 8.2% in the 3rd quarter. Whittier Trust Co. now owns 9,216 shares of the technology company’s stock valued at $949,000 after purchasing an additional 701 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

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.