Brokerages Set Descartes Systems Group Inc (DSGX) Target Price at $33.67

Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) has earned a consensus rating of “Buy” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $33.67.

A number of brokerages have weighed in on DSGX. Raymond James reiterated a “market perform” rating and set a $31.00 price target on shares of Descartes Systems Group in a report on Wednesday, January 30th. BidaskClub downgraded Descartes Systems Group from a “sell” rating to a “strong sell” rating in a report on Thursday, November 15th. TheStreet downgraded Descartes Systems Group from a “b” rating to a “c+” rating in a report on Monday, December 24th. Zacks Investment Research downgraded Descartes Systems Group from a “hold” rating to a “sell” rating in a report on Friday, November 30th. Finally, Echelon Wealth Partners reiterated a “buy” rating on shares of Descartes Systems Group in a report on Monday, January 28th.

Several institutional investors and hedge funds have recently modified their holdings of the company. Highstreet Asset Management Inc. grew its stake in shares of Descartes Systems Group by 75.7% in the 4th quarter. Highstreet Asset Management Inc. now owns 71,778 shares of the technology company’s stock valued at $1,894,000 after buying an additional 30,935 shares during the period. AGF Investments Inc. grew its stake in shares of Descartes Systems Group by 80.2% in the 4th quarter. AGF Investments Inc. now owns 247,951 shares of the technology company’s stock valued at $6,544,000 after buying an additional 110,361 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Descartes Systems Group by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,200,386 shares of the technology company’s stock valued at $31,762,000 after buying an additional 7,774 shares during the period. BlackRock Inc. acquired a new stake in shares of Descartes Systems Group in the 4th quarter valued at about $5,646,000. Finally, Toronto Dominion Bank grew its stake in shares of Descartes Systems Group by 5.5% in the 4th quarter. Toronto Dominion Bank now owns 53,900 shares of the technology company’s stock valued at $1,424,000 after buying an additional 2,802 shares during the period. Institutional investors own 79.72% of the company’s stock.

NASDAQ DSGX traded up $0.15 on Wednesday, reaching $32.06. The company had a trading volume of 3,203 shares, compared to its average volume of 76,744. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 91.17 and a beta of 0.78. Descartes Systems Group has a fifty-two week low of $24.85 and a fifty-two week high of $35.87. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.10.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, November 28th. The technology company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02). Descartes Systems Group had a return on equity of 5.88% and a net margin of 11.24%. The business had revenue of $70.00 million for the quarter, compared to analyst estimates of $69.69 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. Research analysts expect that Descartes Systems Group will post 0.41 earnings per share for the current fiscal year.

Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

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Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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