The Descartes Systems Group (NASDAQ:DSGX) PT Raised to $73.00 at Raymond James

The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) had its price objective increased by equities research analysts at Raymond James from $71.00 to $73.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the technology company’s stock. Raymond James’ target price indicates a potential downside of 4.90% from the company’s previous close.

A number of other brokerages have also weighed in on DSGX. Barclays cut their price target on shares of The Descartes Systems Group from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Thursday, December 8th. Royal Bank of Canada lifted their price target on shares of The Descartes Systems Group from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Thursday, January 19th. Stephens boosted their price objective on shares of The Descartes Systems Group from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Wolfe Research lowered shares of The Descartes Systems Group from an “outperform” rating to a “peer perform” rating in a research report on Thursday, November 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $78.78.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $76.76 on Thursday. The stock has a market cap of $6.51 billion, a P/E ratio of 64.50 and a beta of 1.00. The firm has a 50 day moving average price of $72.66 and a 200 day moving average price of $69.76. The Descartes Systems Group has a 52-week low of $56.19 and a 52-week high of $79.08.

The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 1st. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The Descartes Systems Group had a net margin of 21.05% and a return on equity of 9.90%. The firm had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $123.54 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts predict that The Descartes Systems Group will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its holdings in The Descartes Systems Group by 270.8% during the second quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock worth $28,000 after buying an additional 325 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of The Descartes Systems Group in the third quarter valued at $30,000. Gulf International Bank UK Ltd acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at $58,000. Barclays PLC increased its holdings in shares of The Descartes Systems Group by 6,573.7% in the third quarter. Barclays PLC now owns 1,268 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,249 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of The Descartes Systems Group by 58.9% in the third quarter. EverSource Wealth Advisors LLC now owns 1,351 shares of the technology company’s stock valued at $86,000 after purchasing an additional 501 shares during the last quarter. 80.35% of the stock is currently owned by institutional investors and hedge funds.

About The Descartes Systems Group

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The Descartes Systems Group, Inc provides on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. It uses modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community.