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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price lifted by research analysts at Scotiabank from $104.00 to $120.00 in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price target suggests a potential upside of 15.20% from the company’s current price.

DSGX has been the topic of a number of other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. 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 research note on Thursday, September 5th. BMO Capital Markets lifted their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.17.

The Descartes Systems Group Stock Down 0.4 %

DSGX opened at $104.17 on Thursday. The firm has a market capitalization of $8.89 billion, a P/E ratio of 74.41 and a beta of 0.97. The stock has a fifty day moving average of $101.64 and a 200-day moving average of $98.04. The Descartes Systems Group has a 12-month low of $69.59 and a 12-month high of $108.02.

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 return on equity of 10.21% and a net margin of 21.02%. The business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same period in the prior year, the company posted $0.32 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. On average, analysts expect that The Descartes Systems Group will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of The Descartes Systems Group by 7.0% in the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock worth $15,517,000 after purchasing an additional 11,025 shares during the period. Russell Investments Group Ltd. increased its position in The Descartes Systems Group by 3.4% in the 1st quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock worth $24,043,000 after buying an additional 8,722 shares during the period. Ellsworth Advisors LLC acquired a new position in shares of The Descartes Systems Group during the second quarter worth approximately $527,000. TD Asset Management Inc boosted its position in shares of The Descartes Systems Group by 6.2% in the first quarter. TD Asset Management Inc now owns 820,432 shares of the technology company’s stock valued at $75,114,000 after acquiring an additional 47,949 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of The Descartes Systems Group by 527.7% in the first quarter. Acadian Asset Management LLC now owns 59,000 shares of the technology company’s stock worth $5,398,000 after acquiring an additional 49,600 shares during the last quarter. Institutional investors 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.