Scotiabank Forecasts Strong Price Appreciation for The Descartes Systems Group (NASDAQ:DSGX) Stock

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target hoisted by research analysts at Scotiabank from $125.00 to $127.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s target price points to a potential upside of 24.96% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada decreased their target price on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. CIBC cut their price target on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. Finally, BMO Capital Markets dropped their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Trading Down 1.9 %

NASDAQ DSGX opened at $101.63 on Wednesday. The Descartes Systems Group has a 12-month low of $87.20 and a 12-month high of $124.31. The company has a fifty day simple moving average of $110.67 and a two-hundred day simple moving average of $110.20. The stock has a market cap of $8.70 billion, a P/E ratio of 63.92 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, sell-side analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC increased its stake in shares of The Descartes Systems Group by 41.6% during the third quarter. Intech Investment Management LLC now owns 10,671 shares of the technology company’s stock worth $1,099,000 after purchasing an additional 3,134 shares in the last quarter. FMR LLC increased its stake in The Descartes Systems Group by 2.8% during the 3rd quarter. FMR LLC now owns 150,654 shares of the technology company’s stock worth $15,503,000 after buying an additional 4,067 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of The Descartes Systems Group during the third quarter valued at approximately $352,000. BNP Paribas Financial Markets purchased a new position in shares of The Descartes Systems Group in the third quarter valued at approximately $926,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of The Descartes Systems Group in the third quarter worth approximately $2,404,000. 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.