Kainos Group (LON:KNOS) Trading Up 22.5% - Here's Why

Key Points

• Kainos Group's stock price surged 22.5% on Tuesday, reaching a last traded price of GBX 866 ($11.73) compared to its previous close of GBX 707 ($9.58).
• Wall Street analysts maintain a positive outlook, with a consensus rating of "Buy" and a target price of GBX 1,070 from multiple firms.
• The company has a market capitalization of £1.03 billion and operates in digital technology services across various sectors including public and healthcare.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KNOS shares. Shore Capital reaffirmed a "buy" rating and set a GBX 1,070 target price on shares of Kainos Group in a research note on Monday. Berenberg Bank reaffirmed a "buy" rating and set a GBX 1,025 price objective on shares of Kainos Group in a research report on Monday. Finally, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 1,000 price target on shares of Kainos Group in a report on Monday. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of GBX 1,070.

Kainos Group Stock Performance

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 firm has a 50-day simple moving average of GBX 725.90 and a 200 day simple moving average of GBX 722.36. The company 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.

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.