Royal Bank of Canada Lowers The Descartes Systems Group (NASDAQ:DSGX) Price Target to $130.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target lowered by investment analysts at Royal Bank of Canada from $133.00 to $130.00 in a research report issued on Thursday, MarketBeat reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 29.46% from the company’s current price.

DSGX has been the subject of a number of other reports. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Loop Capital began coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. BMO Capital Markets raised their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens decreased their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Barclays decreased their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Trading Down 1.3 %

Shares of DSGX opened at $100.42 on Thursday. The business’s 50-day moving average price is $114.57 and its 200 day moving average price is $110.11. The stock 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 1-year low of $87.20 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, research analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On The Descartes Systems Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. lifted its holdings in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. GeoWealth Management LLC lifted its holdings in The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after purchasing an additional 132 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in The Descartes Systems Group in the 4th quarter worth approximately $43,000. Trust Co. of Vermont acquired a new stake in The Descartes Systems Group in the 4th quarter worth approximately $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in The Descartes Systems Group in the 4th quarter worth approximately $57,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

About The Descartes Systems Group

The Descartes Systems Group Inc 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.