Canaccord Genuity analyst David Hynes maintained a Buy rating on Descartes (NASDAQ: DSGX) today and set a price target of $35. The company’s shares closed yesterday at $31.40, equals to its 52-week high of $31.40.
According to TipRanks.com, Hynes is a top 100 analyst with an average return of 31.7% and a 76.2% success rate. Hynes covers the Technology sector, focusing on stocks such as Nuance Communications, Aspen Technology, and Veeva Systems.
Descartes has an analyst consensus of Moderate Buy, with a price target consensus of $33.75.
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The company has a one-year high of $31.40 and a one-year low of $23.40. Currently, Descartes has an average volume of 70.3K.
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The Descartes Systems Group, Inc. is an information technology company, which provides logistics technology solutions. It specializes in cloud-based solutions including modular and software-as-a-service to route, schedule, track, and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access and leverage global trade and restricted party data; file customers and security documents for imports and exports; research and perform trade tariff and duty calculations and to complete numerous other logistics processes. It primarily supports transportation industry, logistics service providers, third-party logistics providers, freight forwarders, and custom brokers. The company was founded on May 22, 1981 and is headquartered in Waterloo, Canada.
