Loop Capital Begins Coverage on The Descartes Systems Group (NASDAQ:DSGX)

Research analysts at Loop Capital started coverage on shares of The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) in a research report issued on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $140.00 price target on the technology company’s stock. Loop Capital’s price objective would indicate a potential upside of 21.90% from the company’s current price.

A number of other research firms have also recently commented on DSGX. Royal Bank of Canada raised their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. TD Securities upped their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, BMO Capital Markets boosted their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.15.

The Descartes Systems Group Price Performance

DSGX opened at $114.85 on Tuesday. The stock has a market cap of $9.81 billion, a P/E ratio of 72.23 and a beta of 0.98. The firm has a fifty day moving average price of $112.29 and a 200 day moving average price of $103.24. The Descartes Systems Group has a 1 year low of $79.21 and a 1 year high of $122.88.

Hedge Funds Weigh In On The Descartes Systems Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Intact Investment Management Inc. acquired a new stake in The Descartes Systems Group in the 2nd quarter valued at about $61,000. Blue Trust Inc. increased its holdings in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after buying an additional 587 shares during the last quarter. Andra AP fonden purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at approximately $77,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in The Descartes Systems Group by 143.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock valued at $116,000 after acquiring an additional 704 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in The Descartes Systems Group by 28.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after acquiring an additional 279 shares during the period. 77.73% of the stock is owned by hedge funds and other 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.