Barclays Has Lowered Expectations for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective decreased by stock analysts at Barclays from $125.00 to $118.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 15.04% from the company’s previous close.

A number of other analysts also recently issued reports on DSGX. Scotiabank lifted their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. Stephens raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Saturday, February 1st. TD Securities lifted their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.58.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $102.58 on Thursday. The firm has a fifty day moving average price of $114.83 and a two-hundred day moving average price of $110.17. The Descartes Systems Group has a one year low of $87.20 and a one year high of $124.31. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 64.97 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. Equities research analysts expect that The Descartes Systems Group will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On The Descartes Systems Group

A number of hedge funds have recently modified their holdings of DSGX. Mather Group LLC. increased its position in shares of 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 buying an additional 181 shares during the period. GeoWealth Management LLC boosted its stake in The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after acquiring an additional 132 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in The Descartes Systems Group during the fourth quarter worth about $43,000. Trust Co. of Vermont bought a new stake in The Descartes Systems Group during the fourth quarter worth about $54,000. Finally, GAMMA Investing LLC boosted its stake in The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

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.