Kainos Group (LON:KNOS) Shares Up 22.5% - What's Next?

Key Points

• Kainos Group's share price surged 22.5%, reaching a high of GBX 870.50 during trading, significantly above its previous close of GBX 707.
• Wall Street analysts have given the stock a consensus rating of "Buy" with price targets as high as GBX 1,070 from firms like Canaccord Genuity Group and Shore Capital.
• The company's stock has seen a notable trading volume increase of 259% compared to its average session, indicating heightened investor interest.

Kainos Group plc (LON:KNOS - Get Free Report)'s stock price rose 22.5% during mid-day trading on Tuesday . The stock traded as high as GBX 870.50 ($11.70) and last traded at GBX 866 ($11.64). Approximately 1,323,183 shares traded hands during mid-day trading, an increase of 259% from the average daily volume of 368,477 shares. The stock had previously closed at GBX 707 ($9.50).

Wall Street Analyst Weigh In

KNOS has been the topic of several research analyst reports. Shore Capital reissued a "buy" rating and set a GBX 1,070 target price on shares of Kainos Group in a research note on Monday. Berenberg Bank reissued a "buy" rating and issued a GBX 1,025 target price on shares of Kainos Group in a research report on Monday. Finally, Canaccord Genuity Group reaffirmed a "speculative buy" rating and issued a GBX 1,000 price objective on shares of Kainos Group in a research note on Monday. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of GBX 1,070.

Kainos Group Price Performance

The firm has a market cap of £1.03 billion, a price-to-earnings ratio of 3,053.19, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79. The company has a quick ratio of 1.59, a current ratio of 1.81 and a debt-to-equity ratio of 3.76. The stock's 50-day moving average price is GBX 725.90 and its 200 day moving average price is GBX 722.36.

About Kainos Group

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.