Barclays Has Lowered Expectations for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target lowered by investment analysts 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 objective indicates a potential upside of 15.04% from the stock’s previous close.

A number of other analysts have also recently commented on DSGX. Royal Bank of Canada upped their target price on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. BMO Capital Markets upped their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Saturday, February 1st. Scotiabank upped their target price on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Finally, TD Securities increased their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Five 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $102.58 on Thursday. The firm’s 50 day moving average price is $114.83 and its 200-day moving average price is $110.17. The company has a market cap of $8.78 billion, a PE ratio of 64.97 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 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 the consensus estimate of $0.43. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. On average, analysts forecast that The Descartes Systems Group will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its holdings in shares of The Descartes Systems Group by 20.4% during the 3rd quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock valued at $1,368,000 after purchasing an additional 2,250 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of The Descartes Systems Group during the 3rd quarter valued at about $2,308,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of The Descartes Systems Group by 2.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after purchasing an additional 9,768 shares during the last quarter. Barclays PLC boosted its holdings in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock valued at $1,031,000 after purchasing an additional 270 shares during the last quarter. Finally, Canoe Financial LP bought a new position in shares of The Descartes Systems Group during the 4th quarter valued at about $7,939,000. 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.