Stephens Lowers The Descartes Systems Group (NASDAQ:DSGX) Price Target to $137.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective decreased by Stephens from $145.00 to $137.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has an “overweight” rating on the technology company’s stock. Stephens’ target price would indicate a potential upside of 36.43% from the company’s previous close.

Several other research firms have also recently commented on DSGX. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Scotiabank lifted their target price on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. 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 on the stock. TD Securities lifted their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets lifted their target price on shares of 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. Five equities 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Stock Performance

DSGX stock opened at $100.42 on Thursday. The company 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 business has a 50-day simple moving average of $114.57 and a two-hundred day simple moving average of $110.11.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate 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 fiscal year.

Institutional Investors Weigh In On The Descartes Systems Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised its holdings in The Descartes Systems Group by 130.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the period. Vanguard Group Inc. raised its holdings in The Descartes Systems Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock valued at $375,047,000 after acquiring an additional 54,341 shares during the period. Fiera Capital Corp raised its holdings in The Descartes Systems Group by 0.8% during the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after acquiring an additional 19,817 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in The Descartes Systems Group by 6.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company’s stock valued at $200,716,000 after acquiring an additional 101,290 shares during the period. Finally, Franklin Resources Inc. raised its holdings in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock valued at $192,502,000 after acquiring an additional 326,643 shares during the period. Institutional investors own 77.73% of the company’s stock.

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.