The Descartes Systems Group’s (NASDAQ:DSGX) (TSE:DSGprice) objective was lowered by BMO Capital Markets investment analysts on Thursday from $74.00 to $71.00, according to The Fly. The BMO Capital Markets price target would enhance the stock’s current price of 5.54%.
The company has also received comments from a number of stock analysts. The company’s target price was increased on Thursday, September 8th, from $74.00 to $77.00, and the Descartes Systems Group’s advice was modified from “hold” to “buy.” StockNews.com started keeping track of shares of The Descartes Systems Group on Wednesday, October 12. They rated the stock as a “keep.” Stephens raised their target price on shares of The Descartes Systems Group from $83.00 to $85.00 in a research note released on Thursday. They also rated the stock as “overweight.” Barclays decreased The Descartes Systems Group’s “underweight” rating and its price objective for the stock from $60.00 to $58.00 in a research note released on Thursday. In a research note published on Thursday, September 8th, TD Securities raised their price objective for the stock from $84.00 to $85.00, and The Descartes Systems Group modified their rating from “hold” to “buy.” Four experts advised holding the stock, four others advised buying it, and one analyst recommended selling the shares. According to information from Bloomberg.com, the business now has an average “Hold” rating and a consensus price objective of $75.56.
DSGX stock started trading at $67.27 on Thursday. The company’s 50-day moving average is $67.94, and its 200-day moving average is $66.61. The company has a $5.71 billion market cap, a P/E ratio of 63.46, and a beta of 1.03. The Descartes Systems Group’s 12-month range has a low of $56.19 and a high of $83.65, respectively.
The most recent quarterly earnings report from The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was released on September 7. The IT segment’s $0.27 earnings per share for the quarter were above the $0.27 average projection. The Descartes Systems Group’s net margin and return on equity were 19.69% and 8.97%, respectively. Sales for the quarter totaled $123.01 million, which was more than the $118.72 million predicted by experts. The business made $0.27 per share in the same quarter last year. The company’s quarterly revenue rose 17.6% over the previous quarter. Sell-side analysts predict that the Descartes Systems Group will post 1.08 EPS for the current fiscal year.
Several hedge funds’ ownership stakes have changed recently. Captrust Financial Advisors grew its stake in The Descartes Systems Group by 270.8% during the second quarter. During the most recent quarter, Captrust Financial Advisors purchased an additional 325 shares of the technology company’s stock, bringing its total purchases to 445 shares, valued at $28,000. In the second quarter, The Sageworth Trust Co. of South Dakota increased its holding in The Descartes Systems Group by 14.6%. Sageworth Trust Co. of South Dakota now owns 450 shares of the technology company’s stock, worth $28,000, after purchasing an additional 263 shares during the previous period.The Descartes Systems Group’s ownership by Fred Alger Management LLC increased by almost $30,000 during the third quarter. First Horizon Advisors Inc. boosted its holding in The Descartes Systems Group during the second quarter by 8,814.3%. First Horizon Advisors Inc. now directly owns 624 shares of the technology company’s stock, valued at $38,000, after acquiring an additional 617 shares during the last quarter. During the second quarter, EverSource Wealth Advisors LLC also boosted its $53,000 holding in The Descartes Systems Group. 80.28% of the stock is presently held by institutions.
The Descartes Systems Group Inc. provides cloud-based business process solutions for supply chain management and logistics to enhance the efficacy, efficiency, and security of logistics-intensive businesses throughout the globe. By offering a variety of modular, cloud-based, and interoperable online and wireless logistics management apps, its Logistics Technology platform brings together a community of parties with an interest in logistics and makes it possible for them to conduct business.
