Kinaxis (OTCMKTS:KXSCF) Shares Gap Up - Should You Buy?

Key Points

• Shares gapped up — Kinaxis opened at $104.50 after a $97.00 close and was last around $102.41, about a 3.6% intraday rise on very light volume (182 shares).
• Analyst sentiment is bullish: three analysts rate the stock a Buy, with Scotiabank reiterating "outperform" and CIBC upgrading to "outperform."
• Business and technicals: Kinaxis sells the cloud-based RapidResponse supply-chain platform, but the stock trades below its 50-day ($106.37) and 200-day ($121.43) moving averages, suggesting technical resistance.

Kinaxis Inc. (OTCMKTS:KXSCF - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $97.00, but opened at $104.50. Kinaxis shares last traded at $102.41, with a volume of 182 shares traded.

Wall Street Analysts Forecast Growth

KXSCF has been the topic of several research reports. Scotiabank restated an "outperform" rating on shares of Kinaxis in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce upgraded shares of Kinaxis from a "neutral" rating to an "outperform" rating in a report on Sunday, December 14th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Kinaxis has an average rating of "Buy".

Kinaxis Trading Up 3.6%

The business has a 50-day simple moving average of $106.37 and a two-hundred day simple moving average of $121.43.

Kinaxis Company Profile

Kinaxis Inc provides cloud-based subscription software for supply chain operations in the United States, Europe, Asia, and Canada. It offers RapidResponse, a cloud-based platform, which provides advanced planning, sales and operation planning, supply and demand planning, inventory management, and command and control center services. The company also provides strategic services, such as digital business transformation, advanced analytics, and digital innovation and acceleration services; implementation, including agile implementation methodology, RapidStart, sustainment, and rollout services; and continuous learning services consisting of Kinaxis learning center, custom learning programs, and certification, as well as support services.

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