Royal Bank of Canada Issues Positive Forecast for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective raised by investment analysts at Royal Bank of Canada from $115.00 to $133.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.46% from the company’s current price.

Several other analysts have also recently commented on DSGX. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets boosted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average price target of $110.75.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX traded up $1.99 on Friday, reaching $118.26. The company’s stock had a trading volume of 61,960 shares, compared to its average volume of 154,185. The Descartes Systems Group has a 52-week low of $79.21 and a 52-week high of $118.49. The stock’s 50-day moving average is $107.91 and its two-hundred day moving average is $101.22. The stock has a market capitalization of $10.11 billion, a P/E ratio of 79.91 and a beta of 0.97.

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

Institutional Trading of The Descartes Systems Group

Several institutional investors have recently made changes to their positions in DSGX. Avior Wealth Management LLC increased its holdings in The Descartes Systems Group by 2.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after purchasing an additional 117 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of The Descartes Systems Group by 3.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock valued at $388,000 after buying an additional 137 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of The Descartes Systems Group by 4.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after buying an additional 158 shares during the period. Assetmark Inc. lifted its position in The Descartes Systems Group by 3.5% during the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock worth $601,000 after acquiring an additional 197 shares in the last quarter. Finally, Park Place Capital Corp boosted its holdings in The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after acquiring an additional 212 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

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.