Kainos Group (LON:KNOS) Stock Price Up 22.6% - Time to Buy?

Key Points

• Kainos Group's stock price increased by 22.6% to GBX 866.98 ($11.71) on Monday, with trading volume rising to over 3 million shares, significantly higher than the average daily volume.
• Analysts from Shore Capital and Canaccord Genuity Group maintained a "buy" rating for Kainos, with price targets set at GBX 1,070 and GBX 1,000 respectively, reflecting strong confidence in the stock.
• The company, which focuses on digital technology services, has a market capitalization of £1.04 billion and an average rating of "Buy" among investment analysts, indicating a favorable outlook for future performance.

Kainos Group plc (LON:KNOS - Get Free Report) shares shot up 22.6% on Monday . The company traded as high as GBX 867.50 ($11.66) and last traded at GBX 866.98 ($11.65). 3,167,888 shares traded hands during trading, an increase of 735% from the average session volume of 379,457 shares. The stock had previously closed at GBX 707 ($9.50).

Wall Street Analyst Weigh In

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

Kainos Group Stock Performance

The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.59 and a current ratio of 1.81. The stock has a market cap 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 firm's 50 day moving average is GBX 725.90 and its 200 day moving average is GBX 722.36.

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.