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

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its target price reduced by equities research analysts at Morgan Stanley from $110.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target indicates a potential upside of 24.90% from the company’s current price.

DSGX has been the topic of several other reports. TD Cowen reaffirmed a “buy” rating and set a $121.00 price objective on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a report on Thursday, November 13th. TD Securities initiated coverage on shares of The Descartes Systems Group in a research report on Friday, October 3rd. They issued a “buy” rating and a $121.00 target price for the company. Finally, Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $120.70.

The Descartes Systems Group Trading Up 0.9%

The Descartes Systems Group stock traded up $0.69 during mid-day trading on Thursday, hitting $80.07. The company had a trading volume of 123,017 shares, compared to its average volume of 407,949. The Descartes Systems Group has a 12 month low of $78.88 and a 12 month high of $124.31. The company has a market capitalization of $6.88 billion, a PE ratio of 47.30 and a beta of 0.75. The stock’s 50 day moving average price is $93.37 and its two-hundred day moving average price is $100.77.

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

Institutional Investors Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in The Descartes Systems Group in the third quarter worth about $27,000. Mather Group LLC. purchased a new position in shares of The Descartes Systems Group during the 3rd quarter valued at about $28,000. Danske Bank A S bought a new position in shares of The Descartes Systems Group during the 3rd quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC purchased a new stake in The Descartes Systems Group in the 3rd quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after acquiring an additional 401 shares during the period. 77.73% of the stock is currently 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.