Stephens Cuts The Descartes Systems Group (NASDAQ:DSGX) Price Target to $125.00

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG had its target price reduced by investment analysts at Stephens from $137.00 to $125.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an "overweight" rating on the technology company's stock. Stephens' target price points to a potential upside of 23.06% from the company's previous close.

A number of other analysts have also recently commented on the stock. CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Scotiabank upped their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Royal Bank of Canada reiterated an "outperform" rating and set a $130.00 target price on shares of The Descartes Systems Group in a report on Friday, March 28th. StockNews.com downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a "buy" rating and a $140.00 price objective for the company. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

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The Descartes Systems Group Stock Down 0.2 %

Shares of DSGX traded down $0.16 during trading hours on Wednesday, reaching $101.58. 258,149 shares of the company traded hands, compared to its average volume of 207,801. The Descartes Systems Group has a 12 month low of $87.20 and a 12 month high of $124.31. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 63.89 and a beta of 0.97. The company's fifty day moving average price is $106.10 and its two-hundred day moving average price is $110.22.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts' consensus estimates of $0.43. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, analysts expect that The Descartes Systems Group will post 1.64 EPS for the current year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of institutional investors have recently bought and sold shares of DSGX. NBC Securities Inc. purchased a new stake in The Descartes Systems Group in the first quarter worth about $25,000. Mather Group LLC. increased its holdings in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after acquiring an additional 181 shares in the last quarter. GeoWealth Management LLC raised its stake 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 worth $39,000 after acquiring an additional 132 shares during the period. SBI Securities Co. Ltd. purchased a new position in The Descartes Systems Group during the fourth quarter valued at approximately $43,000. Finally, Trust Co. of Vermont purchased a new position in The Descartes Systems Group during the fourth quarter valued at approximately $54,000. 77.73% of the stock is owned by 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.