Analysts Set The Descartes Systems Group Inc. (NASDAQ:DSGX) Price Target at $98.44

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have received a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $98.44.

Several brokerages have recently commented on DSGX. BMO Capital Markets raised their price objective on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Barclays increased their target price on The Descartes Systems Group from $71.00 to $75.00 and gave the stock an “underweight” rating in a report on Tuesday, February 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 target price on shares of The Descartes Systems Group in a report on Thursday, April 11th. Raymond James increased their target price on The Descartes Systems Group from $84.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Finally, William Blair reiterated an “outperform” rating on shares of The Descartes Systems Group in a report on Monday, April 1st.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $94.50 on Friday. The company has a market capitalization of $8.05 billion, a PE ratio of 70.40 and a beta of 0.94. The Descartes Systems Group has a fifty-two week low of $69.59 and a fifty-two week high of $96.04. The company has a 50 day simple moving average of $89.95 and a two-hundred day simple moving average of $84.22.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. Research analysts predict that The Descartes Systems Group will post 1.69 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in shares of The Descartes Systems Group by 5.5% in the 1st quarter. Fifth Third Bancorp now owns 2,377 shares of the technology company’s stock worth $218,000 after buying an additional 123 shares during the last quarter. AtonRa Partners increased its position in shares of The Descartes Systems Group by 1.6% during the fourth quarter. AtonRa Partners now owns 8,639 shares of the technology company’s stock valued at $726,000 after buying an additional 137 shares during the period. Signaturefd LLC increased its position in shares of The Descartes Systems Group by 26.7% during the third quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock valued at $51,000 after buying an additional 147 shares during the period. Bank of Nova Scotia Trust Co. increased its position in shares of The Descartes Systems Group by 0.3% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 51,532 shares of the technology company’s stock worth $4,332,000 after purchasing an additional 173 shares during the last quarter. Finally, Prudential PLC increased its position in shares of The Descartes Systems Group by 1.8% in the fourth quarter. Prudential PLC now owns 10,778 shares of the technology company’s stock worth $906,000 after purchasing an additional 193 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

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.