The Descartes Systems Group (NASDAQ:DSGX) Now Covered by Loop Capital

Stock analysts at Loop Capital started coverage on shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $140.00 price target on the technology company’s stock. Loop Capital’s price target would suggest a potential upside of 17.38% from the company’s previous close.

Other research analysts have also issued reports about the company. Scotiabank raised their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their target price on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $116.15.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $119.27 on Tuesday. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 75.01 and a beta of 0.98. The stock’s fifty day moving average price is $111.94 and its 200 day moving average price is $103.05. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $122.88.

Institutional Investors Weigh In On The Descartes Systems Group

Institutional investors have recently modified their holdings of the business. Lord Abbett & CO. LLC boosted its position in The Descartes Systems Group by 12.1% during the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after purchasing an additional 72,501 shares in the last quarter. DGS Capital Management LLC purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $203,000. Franklin Resources Inc. raised its stake in shares of The Descartes Systems Group by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after buying an additional 40,807 shares during the period. Synovus Financial Corp lifted its position in shares of The Descartes Systems Group by 8.4% during the 3rd quarter. Synovus Financial Corp now owns 15,354 shares of the technology company’s stock valued at $1,581,000 after buying an additional 1,190 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at $465,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

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.