The Descartes Systems Group (NASDAQ:DSGX) Price Target Cut to $126.00 by Analysts at Royal Bank of Canada

Royal Bank of Canada has reduced its target price for The Descartes Systems Group (NASDAQ: DSGX) from $130.00 to $126.00, maintaining an "outperform" rating. This suggests a potential upside of 19.63% from the stock's previous close. Other firms have also adjusted their price targets, with a consensus rating of "Moderate Buy" and an average target of $123.40. The stock recently traded down 8.9% to $105.33, with a market cap of $9.02 billion and a P/E ratio of 66.35.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG had its target price reduced by equities research analysts at Royal Bank of Canada from $130.00 to $126.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the technology company's stock. Royal Bank of Canada's target price suggests a potential upside of 19.63% from the stock's previous close.

Descartes Systems Group Approaches Buy Point Of Flat Base

A number of other research firms have also weighed in on DSGX. CIBC reduced their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Stephens lowered their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Scotiabank boosted their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. BMO Capital Markets lowered their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research note on Thursday, March 6th. Finally, Barclays decreased their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and an average price target of $123.40.

Read Our Latest Research Report on The Descartes Systems Group

The Descartes Systems Group Stock Down 8.9%

Shares of NASDAQ:DSGX traded down $10.28 during trading on Thursday, hitting $105.33. 537,544 shares of the company were exchanged, compared to its average volume of 211,268. The business's 50 day moving average is $106.92 and its 200-day moving average is $110.83. The company has a market capitalization of $9.02 billion, a P/E ratio of 66.35 and a beta of 0.88. The Descartes Systems Group has a 1-year low of $90.55 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $168.74 million for the quarter, compared to the consensus estimate of $169.60 million. During the same period last year, the company posted $0.40 EPS. The business's revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

A number of hedge funds and other institutional investors have recently modified their holdings of DSGX. Mather Group LLC. lifted its position in The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. NBC Securities Inc. bought a new stake in The Descartes Systems Group during the 1st quarter valued at about $25,000. GeoWealth Management LLC lifted its holdings in The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after buying an additional 132 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in The Descartes Systems Group during the 4th quarter valued at about $43,000. Finally, Cullen Frost Bankers Inc. bought a new stake in The Descartes Systems Group during the 1st quarter valued at about $49,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Company Profile

(Get Free Report)

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.

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