TD Securities Issues Positive Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective upped by stock analysts at TD Securities from $115.00 to $135.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the technology company’s stock. TD Securities’ price target would suggest a potential upside of 11.75% from the stock’s previous close.

DSGX has been the topic of several other reports. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. BMO Capital Markets increased their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.17.

The Descartes Systems Group Trading Up 4.1 %

NASDAQ:DSGX traded up $4.79 during trading hours on Wednesday, reaching $120.81. 285,024 shares of the company traded hands, compared to its average volume of 157,236. The business’s 50-day moving average price is $108.71 and its two-hundred day moving average price is $101.68. The stock has a market capitalization of $10.32 billion, a P/E ratio of 81.63 and a beta of 0.98. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $122.22.

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

Institutional Trading of The Descartes Systems Group

Institutional investors have recently added to or reduced their stakes in the stock. Ellsworth Advisors LLC acquired a new stake in The Descartes Systems Group in the 2nd quarter valued at approximately $527,000. Plato Investment Management Ltd acquired a new position in shares of The Descartes Systems Group in the third quarter worth $2,308,000. Massachusetts Financial Services Co. MA grew its stake in shares of The Descartes Systems Group by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after acquiring an additional 9,768 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of The Descartes Systems Group by 8.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 593,906 shares of the technology company’s stock worth $57,514,000 after acquiring an additional 47,481 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in shares of The Descartes Systems Group by 3.3% during the second quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock worth $248,024,000 after purchasing an additional 81,263 shares in the last quarter. Institutional investors and hedge funds 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.