Kainos Group (LON:KNOS) Trading Up 22.5% - Time to Buy?

Key Points

• Kainos Group's stock price surged 22.5% on Tuesday, reaching a high of GBX 870.50 ($11.79) from a previous close of GBX 707 ($9.58).
• An average price target for Kainos Group shares has been set at GBX 1,070, with multiple analysts issuing "buy" ratings for the stock.
• The company's market capitalization stands at £1.03 billion, indicating strong investor interest in the digital technology services sector.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Shore Capital reissued a "buy" rating and issued a GBX 1,070 price objective on shares of Kainos Group in a report on Monday. Canaccord Genuity Group restated a "speculative buy" rating and issued a GBX 1,000 price target on shares of Kainos Group in a research report on Monday. Finally, Berenberg Bank reiterated a "buy" rating and set a GBX 1,025 price objective on shares of Kainos Group in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Kainos Group presently has an average rating of "Buy" and a consensus target price of GBX 1,070.

Kainos Group Price Performance

The company has a market capitalization of £1.03 billion, a P/E 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 business'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.