Scotiabank Boosts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $120.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price hoisted by Scotiabank from $104.00 to $120.00 in a research report released on Thursday morning, MarketBeat reports. They currently have a sector outperform rating on the technology company’s stock.

A number of other brokerages also recently issued reports on DSGX. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. BMO Capital Markets lifted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. Barclays increased their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research report on Thursday, September 5th. Finally, National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.17.

The Descartes Systems Group Price Performance

DSGX opened at $104.17 on Thursday. The Descartes Systems Group has a fifty-two week low of $69.59 and a fifty-two week high of $108.02. The firm has a market capitalization of $8.89 billion, a P/E ratio of 74.41 and a beta of 0.97. The company’s 50-day moving average is $101.64 and its 200 day moving average is $98.09.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The Descartes Systems Group’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. On average, equities research analysts expect that The Descartes Systems Group will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of The Descartes Systems Group by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after buying an additional 278,796 shares in the last quarter. Vanguard Group Inc. boosted its holdings in The Descartes Systems Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after purchasing an additional 40,897 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in The Descartes Systems Group by 2.2% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 3,116,109 shares of the technology company’s stock valued at $301,764,000 after purchasing an additional 66,645 shares during the period. Fiera Capital Corp grew its position in shares of The Descartes Systems Group by 3.3% during the 2nd quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock valued at $248,024,000 after purchasing an additional 81,263 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of The Descartes Systems Group by 4.5% in the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock worth $206,807,000 after purchasing an additional 91,301 shares during the period. 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.