The Descartes Systems Group (NASDAQ:DSGX) Given a $125.00 Price Target at Royal Bank Of Canada

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) has been given a $125.00 price target by analysts at Royal Bank Of Canada in a report released on Friday, BayStreet reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 58.45% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce raised their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Loop Capital reissued a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. Raymond James Financial lowered their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Finally, National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.46.

The Descartes Systems Group Stock Down 2.3%

NASDAQ DSGX traded down $1.86 on Friday, reaching $78.89. The company had a trading volume of 339,513 shares, compared to its average volume of 610,187. The company’s fifty day moving average is $75.05 and its 200 day moving average is $72.18. The Descartes Systems Group has a 52-week low of $62.56 and a 52-week high of $109.00. The stock has a market capitalization of $6.75 billion, a P/E ratio of 39.45 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same period last year, the firm posted $0.41 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. On average, research analysts expect that The Descartes Systems Group will post 2.34 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock worth $316,050,000 after acquiring an additional 69,260 shares in the last quarter. Mackenzie Financial Corp raised its position in The Descartes Systems Group by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 3,371,562 shares of the technology company’s stock valued at $296,326,000 after purchasing an additional 56,069 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $181,742,000. Janus Henderson Group PLC grew its position in shares of The Descartes Systems Group by 4.1% during the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock worth $184,127,000 after buying an additional 100,937 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of The Descartes Systems Group during the second quarter worth approximately $141,403,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.