Morgan Stanley Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $100.00

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective cut by Morgan Stanley from $110.00 to $100.00 in a report released on Thursday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other research analysts also recently weighed in on DSGX. TD Securities started coverage on The Descartes Systems Group in a research note on Friday, October 3rd. They issued a “buy” rating and a $121.00 price target for the company. TD Cowen reissued a “buy” rating and issued a $121.00 target price on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Thursday, November 13th. CIBC cut their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.70.

The Descartes Systems Group Trading Up 2.0%

Shares of DSGX stock opened at $81.49 on Thursday. The firm’s fifty day moving average price is $92.37 and its two-hundred day moving average price is $100.39. The Descartes Systems Group has a 1 year low of $78.88 and a 1 year high of $124.31. The firm has a market capitalization of $7.01 billion, a P/E ratio of 48.22 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, equities research analysts forecast that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP lifted its stake in shares of The Descartes Systems Group by 4.6% during the 1st quarter. Royce & Associates LP now owns 45,965 shares of the technology company’s stock worth $4,635,000 after buying an additional 2,008 shares during the last quarter. Assetmark Inc. raised its holdings in The Descartes Systems Group by 19.2% in the 1st quarter. Assetmark Inc. now owns 11,045 shares of the technology company’s stock valued at $1,114,000 after acquiring an additional 1,777 shares during the period. TD Asset Management Inc lifted its position in The Descartes Systems Group by 1.6% during the first quarter. TD Asset Management Inc now owns 913,866 shares of the technology company’s stock worth $92,014,000 after acquiring an additional 14,104 shares during the last quarter. HB Wealth Management LLC bought a new stake in shares of The Descartes Systems Group during the first quarter worth approximately $245,000. Finally, LPL Financial LLC grew its position in shares of The Descartes Systems Group by 7.7% in the first quarter. LPL Financial LLC now owns 23,021 shares of the technology company’s stock valued at $2,321,000 after purchasing an additional 1,646 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.