Kinaxis (TSE:KXS) Share Price Crosses Below 50 Day Moving Average - Should You Sell?

Key Points

• Kinaxis Inc. shares have fallen below their fifty-day moving average, currently trading at C$179.00, down from a moving average of C$191.93.
• Analysts have raised their price targets for Kinaxis, with Stifel Nicolaus increasing their target to C$245.00, while Scotiabank and Royal Bank of Canada raised theirs to C$240.00 and C$235.00, respectively.
• Insider trading activity includes significant sales, with one insider reducing their holdings by 17.17% and another by 81.33%, indicating potential concern about the stock's future performance.

Shares of Kinaxis Inc. (TSE:KXS - Get Free Report) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$191.93 and traded as low as C$178.05. Kinaxis shares last traded at C$179.00, with a volume of 58,954 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on KXS. Stifel Nicolaus increased their price target on Kinaxis from C$225.00 to C$245.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Scotiabank increased their price target on Kinaxis from C$225.00 to C$240.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada increased their price target on Kinaxis from C$225.00 to C$235.00 in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$216.43.

Kinaxis Price Performance

The business has a 50-day moving average price of C$191.93 and a 200 day moving average price of C$188.38. The company has a market cap of C$5.06 billion, a price-to-earnings ratio of 208.14, a P/E/G ratio of 3.60 and a beta of 0.93. The company has a current ratio of 1.89, a quick ratio of 2.29 and a debt-to-equity ratio of 12.12.

Insider Activity

In other news, insider Mark Justin Morgan sold 2,281 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of C$198.63, for a total transaction of C$453,081.87. Following the completion of the sale, the insider owned 11,000 shares in the company, valued at approximately C$2,184,963. This represents a 17.17% decrease in their position. Also, Director Angel Luis Mendez sold 6,100 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of C$190.00, for a total value of C$1,159,000.00. Following the sale, the director owned 1,400 shares of the company's stock, valued at C$266,000. This trade represents a 81.33% decrease in their position. In the last 90 days, insiders sold 8,656 shares of company stock worth $1,665,206. Insiders own 1.20% of the company's stock.

Kinaxis Company Profile

Kinaxis Inc is a Canada-based provider of software solutions for sales and operations planning (S&OP) and supply chain management. The firm's flagship RapidResponse product is offered on the cloud. Its capabilities include consequence evaluation and alerting, responsibility-based collaboration, high-speed analytics, and scenario simulation.

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