Canaccord Genuity Increases Kinaxis (TSE:KXS) Price Target to C$92.00

Kinaxis (TSE:KXS) had its price target upped by analysts at Canaccord Genuity from C$90.00 to C$92.00 in a research note issued to investors on Friday, BayStreet.CA reports. Canaccord Genuity’s price objective points to a potential upside of 11.96% from the stock’s previous close.

Separately, Royal Bank of Canada increased their price target on Kinaxis from C$90.00 to C$95.00 and gave the company an “outperform” rating in a research note on Monday, May 13th.

Kinaxis stock traded down C$1.36 during midday trading on Friday, reaching C$82.17. 146,454 shares of the stock traded hands, compared to its average volume of 91,786. The business’s fifty day moving average price is C$82.14. Kinaxis has a 12 month low of C$60.01 and a 12 month high of C$100.68. The company has a market cap of $2.17 billion and a PE ratio of 128.75. The company has a current ratio of 2.73, a quick ratio of 2.65 and a debt-to-equity ratio of 5.99.

Kinaxis (TSE:KXS) last announced its quarterly earnings results on Friday, May 10th. The company reported C$0.35 EPS for the quarter, beating analysts’ consensus estimates of C$0.16 by C$0.19. The firm had revenue of C$60.83 million for the quarter, compared to the consensus estimate of C$59.47 million. As a group, research analysts predict that Kinaxis will post 1.37 EPS for the current fiscal year.

In related news, Senior Officer Richard George Monkman sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$75.44, for a total transaction of C$377,183.00. Following the completion of the transaction, the insider now directly owns 102,027 shares of the company’s stock, valued at C$7,696,569.99. Also, Senior Officer Paul Carreiro sold 1,200 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$83.67, for a total value of C$100,409.76. Following the transaction, the insider now directly owns 2,805 shares of the company’s stock, valued at C$234,707.81. Over the last three months, insiders have sold 11,100 shares of company stock valued at $880,723.

About Kinaxis

Kinaxis Inc provides cloud-based subscription software for supply chain operations in the United States, Europe, Asia, and Canada. The company offers RapidResponse, which provide supply chain planning and analytics capabilities for managing various supply chain management processes, including demand planning, supply planning, inventory management, order fulfillment, capacity planning, and master scheduling, as well as sales and operations planning process.

Further Reading: Bear Market

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