Kainos Group (LON:KNOS) Share Price Passes Above 50-Day Moving Average - What's Next?

Key Points

• Kainos Group shares moved above their 50-day moving average, trading as high as GBX 833 before last changing hands at GBX 820. The move comes as the stock continues to trade near its 200-day average.
• Broker sentiment remains positive, with multiple firms reiterating “buy” ratings and price targets well above the current share price. The consensus target is GBX 1,173.40.
• The company reported strong recent results, including GBX 41.60 EPS for the quarter and £431.10 million in revenue, while insider Richard McCann sold 760,911 shares in early July.

Kainos Group plc (LON:KNOS - Get Free Report)'s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 815.07 and traded as high as GBX 833. Kainos Group shares last traded at GBX 820, with a volume of 420,337 shares changing hands.

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Wall Street Analyst Weigh In

A number of brokerages have weighed in on KNOS. Berenberg Bank reissued a "buy" rating and issued a GBX 1,185 target price on shares of Kainos Group in a research report on Tuesday, May 19th. Stifel Nicolaus reiterated a "buy" rating and issued a GBX 1,282 price target on shares of Kainos Group in a research note on Tuesday, April 21st. Canaccord Genuity Group boosted their price objective on shares of Kainos Group from GBX 1,150 to GBX 1,200 and gave the company a "buy" rating in a report on Tuesday, May 19th. Finally, Shore Capital Group restated a "buy" rating on shares of Kainos Group in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of GBX 1,173.40.

Kainos Group Price Performance

The company has a current ratio of 1.17, a quick ratio of 1.59 and a debt-to-equity ratio of 6.11. The stock has a market cap of £945.42 million, a P/E ratio of 23.36, a PEG ratio of 2.15 and a beta of 0.83. The company's 50 day moving average price is GBX 815.07 and its two-hundred day moving average price is GBX 817.95.

Kainos Group (LON:KNOS - Get Free Report) last announced its earnings results on Monday, May 18th. The company reported GBX 41.60 earnings per share (EPS) for the quarter. The company had revenue of £431.10 million during the quarter. Kainos Group had a net margin of 9.86% and a return on equity of 41.45%. Equities analysts forecast that Kainos Group plc will post 48.0997625 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Richard McCann sold 760,911 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of GBX 779, for a total value of £5,927,496.69. Corporate insiders own 19.74% of the company's stock.

Kainos Group Company Profile

Kainos Group plc engages in the provision of digital technology services in the United Kingdom, Ireland, North America, Central Europe, and internationally. It operates through three segments: Digital Services, Workday Services, and Workday Products. The Digital Services segment develops and supports custom digital service platforms for transforming service delivery in public, commercial, and healthcare sectors. The Workday Services segment provides consulting, project management, integration, and post deployment services for Workday's software suite, which includes cloud-based software for human capital management, and financial management, and adaptive planning.

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