Barclays Issues Pessimistic Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price lowered by equities researchers at Barclays from $125.00 to $118.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 17.51% from the stock’s current price.

A number of other research firms have also issued reports on DSGX. Royal Bank of Canada raised their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 29th. Loop Capital began coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. TD Securities lifted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets upped their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.33.

The Descartes Systems Group Stock Down 1.3 %

Shares of The Descartes Systems Group stock opened at $100.42 on Thursday. The firm has a market capitalization of $8.60 billion, a P/E ratio of 63.16 and a beta of 0.99. The Descartes Systems Group has a 52 week low of $87.20 and a 52 week high of $124.31. The company has a 50 day moving average price of $114.57 and a 200 day moving average price of $110.11.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. As a group, research analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

Several hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in shares of The Descartes Systems Group by 14.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock valued at $96,000 after buying an additional 108 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after buying an additional 117 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after buying an additional 132 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of The Descartes Systems Group by 1.8% during the 4th quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company’s stock valued at $1,104,000 after buying an additional 172 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. Hedge funds and other 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.