Kinaxis (OTCMKTS:KXSCF) Shares Gap Up - Still a Buy?

Key Points

• Premarket gap up: Kinaxis shares opened at $110.73 versus a prior close of $104.79 and last traded at $106.55 on very light volume (42 shares).
• Analyst sentiment: Scotiabank reissued an "outperform" and CIBC upgraded to "outperform," with three analysts rating the stock a Buy and a consensus "Buy".
• Business and technicals: Kinaxis provides cloud-based supply-chain software (RapidResponse); the 50‑day SMA is $104.22 while the 200‑day SMA is $120.16, showing strength short term but below the longer-term trend.

Shares of Kinaxis Inc. (OTCMKTS:KXSCF - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $104.7850, but opened at $110.7299. Kinaxis shares last traded at $106.55, with a volume of 42 shares.

Analysts Set New Price Targets

Several brokerages have commented on KXSCF. Scotiabank reissued an "outperform" rating on shares of Kinaxis in a research report on Wednesday, February 4th. Canadian Imperial Bank of Commerce raised shares of Kinaxis from a "neutral" rating to an "outperform" rating in a research report on Sunday, December 14th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Kinaxis presently has a consensus rating of "Buy".

Kinaxis Stock Up 1.5%

The company has a fifty day simple moving average of $104.22 and a 200 day simple moving average of $120.16.

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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