CIBC Upgrades The Descartes Systems Group (NASDAQ:DSGX) to Sector Outperform

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) was upgraded by equities research analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage presently has a $101.00 price target on the technology company’s stock, up from their prior price target of $96.50. CIBC’s target price would suggest a potential upside of 11.55% from the stock’s current price.

Several other equities analysts have also issued reports on DSGX. Scotiabank boosted their target price on The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a research report on Thursday, March 7th. Barclays upped their target price on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a research note on Tuesday, February 20th. BMO Capital Markets lifted their price target on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Stephens upped their price objective on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Finally, TD Securities lifted their target price on The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.44.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $90.54 on Tuesday. The company’s 50 day simple moving average is $89.67 and its 200 day simple moving average is $83.61. The Descartes Systems Group has a fifty-two week low of $69.59 and a fifty-two week high of $94.54. The firm has a market capitalization of $7.71 billion, a P/E ratio of 67.57 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The company had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. During the same quarter in the prior year, the business posted $0.34 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. Sell-side analysts expect that The Descartes Systems Group will post 1.69 EPS for the current fiscal year.

Institutional Trading of The Descartes Systems Group

Institutional investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new position in The Descartes Systems Group in the fourth quarter valued at approximately $27,000. Accent Capital Management LLC bought a new position in shares of The Descartes Systems Group in the 4th quarter valued at about $32,000. Captrust Financial Advisors grew its position in shares of The Descartes Systems Group by 270.8% in the 2nd quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock valued at $28,000 after acquiring an additional 325 shares during the period. Operose Advisors LLC acquired a new position in shares of The Descartes Systems Group during the 3rd quarter worth about $35,000. Finally, Fred Alger Management LLC bought a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at about $30,000. 77.73% of the stock is currently owned by institutional investors.

About The Descartes Systems Group

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.