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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price target decreased by analysts at Royal Bank of Canada from $133.00 to $130.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 27.92% from the stock’s previous close.

DSGX has been the subject of several other reports. BMO Capital Markets lifted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. 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. Stephens decreased their price objective on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday. Scotiabank raised 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 note on Wednesday, December 4th. Finally, Barclays decreased their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday. Five investment 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.33.

The Descartes Systems Group Stock Down 8.4 %

Shares of NASDAQ:DSGX traded down $9.30 during midday trading on Thursday, hitting $101.62. The stock had a trading volume of 222,111 shares, compared to its average volume of 230,429. The business’s 50-day simple moving average is $114.83 and its 200-day simple moving average is $110.17. The Descartes Systems Group has a 12 month low of $87.20 and a 12 month high of $124.31. The company has a market cap of $8.70 billion, a P/E ratio of 63.91 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The company had revenue of $167.50 million during 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%. As a group, equities analysts predict 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 have recently added to or reduced their stakes in the stock. Mather Group LLC. lifted its position in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. GeoWealth Management LLC raised its stake in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after purchasing an additional 132 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in The Descartes Systems Group during the fourth quarter worth about $43,000. Trust Co. of Vermont acquired a new stake in The Descartes Systems Group during the fourth quarter worth about $54,000. Finally, GAMMA Investing LLC grew its stake in The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after buying an additional 495 shares in the last quarter. 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.