The Descartes Systems Group (NASDAQ:DSGX) Price Target Raised to $110.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective increased by Morgan Stanley from $100.00 to $110.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other research analysts also recently weighed in on DSGX. TD Cowen reiterated a “buy” rating and set a $121.00 target price on shares of The Descartes Systems Group in a report on Friday, October 3rd. BMO Capital Markets lowered their price objective on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, December 4th. TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 1st. Finally, CIBC reduced their price target on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.45.

The Descartes Systems Group Stock Performance

DSGX stock opened at $92.24 on Tuesday. The firm has a market cap of $7.93 billion, a P/E ratio of 52.11 and a beta of 0.74. The firm’s fifty day moving average is $89.17 and its 200 day moving average is $98.01. The Descartes Systems Group has a 52 week low of $78.88 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The business had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of large investors have recently added to or reduced their stakes in DSGX. Swiss Life Asset Management Ltd increased its position in The Descartes Systems Group by 12.6% during the third quarter. Swiss Life Asset Management Ltd now owns 5,871 shares of the technology company’s stock valued at $554,000 after acquiring an additional 657 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in The Descartes Systems Group in the 3rd quarter worth $920,000. Danske Bank A S bought a new stake in The Descartes Systems Group during the 3rd quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after buying an additional 401 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC lifted its stake in The Descartes Systems Group by 0.3% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock worth $5,207,000 after purchasing an additional 140 shares in the last quarter. Institutional investors 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.