The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG)‘s stock had its “buy” rating reissued by equities researchers at Loop Capital in a report issued on Thursday, Benzinga reports. They currently have a $96.00 price target on the technology company’s stock. Loop Capital’s price objective would indicate a potential upside of 18.01% from the company’s current price.
A number of other analysts have also issued reports on the stock. Scotia raised their target price on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 11th. Royal Bank Of Canada set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Friday, September 4th. Scotiabank upped their target price on The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research note on Friday, September 11th. Weiss Ratings raised The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 21st. Finally, National Bank Financial lifted their price target on The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $99.67.
View Our Latest Stock Report on The Descartes Systems Group
The Descartes Systems Group Trading Up 1.6%
The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG) last announced its earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The firm had revenue of $198.12 million during the quarter, compared to the consensus estimate of $197.54 million. During the same quarter in the previous year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts predict that The Descartes Systems Group will post 2.37 EPS for the current year.
Hedge Funds Weigh In On The Descartes Systems Group
Hedge funds and other institutional investors have recently modified their holdings of the company. Jupiter Topco LLC acquired a new stake in The Descartes Systems Group during the 2nd quarter worth approximately $181,742,000. Janus Henderson Group PLC increased its position in shares of The Descartes Systems Group by 4.1% in the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company’s stock worth $184,127,000 after acquiring an additional 100,937 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of The Descartes Systems Group in the 2nd quarter valued at $141,403,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of The Descartes Systems Group by 74.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after acquiring an additional 743,104 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of The Descartes Systems Group by 640.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company’s stock valued at $94,402,000 after acquiring an additional 1,179,345 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.
About The Descartes Systems Group
The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.
The company’s products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.
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