Kinaxis (TSE:KXS) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• Kinaxis shares moved above their 50-day moving average, reaching C$168.35 before last trading at C$164.71. The stock’s 50-day average was C$165.92, while its 200-day average stood at C$151.71.
• Analysts remain bullish, with seven analysts assigning Buy ratings and an average price target of C$203.12. Recent targets range from C$200 to C$210, implying potential upside from the latest price.
• Kinaxis reported quarterly revenue of C$230.64 million and earnings of C$1.08 per share, alongside a 14.40% net margin and 20.88% return on equity. Insiders have sold 31,580 shares worth approximately C$5.49 million over the past 90 days.

Shares of Kinaxis Inc. (TSE:KXS - Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$165.92 and traded as high as C$168.35. Kinaxis shares last traded at C$164.71, with a volume of 166,215 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on KXS shares. Royal Bank Of Canada set a C$210.00 price target on Kinaxis and gave the stock an "outperform" rating in a report on Wednesday, August 26th. BMO Capital Markets boosted their target price on Kinaxis from C$195.00 to C$200.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. National Bank Financial raised their price target on Kinaxis from C$200.00 to C$210.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Kinaxis from C$173.00 to C$205.00 in a research report on Friday, June 5th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of C$203.12.

Kinaxis Trading Down 0.7%

The company has a quick ratio of 2.29, a current ratio of 1.88 and a debt-to-equity ratio of 11.14. The business has a fifty day moving average price of C$165.92 and a 200-day moving average price of C$151.71. The company has a market cap of C$4.48 billion, a P/E ratio of 53.83, a PEG ratio of 3.60 and a beta of 0.71.

Kinaxis (TSE:KXS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$1.08 earnings per share for the quarter. Kinaxis had a return on equity of 20.88% and a net margin of 14.40%.The firm had revenue of C$230.64 million for the quarter. On average, analysts forecast that Kinaxis Inc. will post 4.2526231 earnings per share for the current year.

Insider Transactions at Kinaxis

In other Kinaxis news, insider Megan Paterson sold 983 shares of Kinaxis stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$171.46, for a total value of C$168,545.18. Following the completion of the transaction, the insider directly owned 320 shares of the company's stock, valued at C$54,867.20. The trade was a 75.44% decrease in their position. Also, insider Vasile Gelu Ticala sold 961 shares of the company's stock in a transaction on Monday, August 31st. The shares were sold at an average price of C$177.68, for a total value of C$170,750.48. Following the sale, the insider owned 596 shares of the company's stock, valued at approximately C$105,897.28. The trade was a 61.72% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 31,580 shares of company stock worth $5,492,647. Company insiders own 1.20% of the company's stock.

About Kinaxis

Kinaxis is a leader in modern supply chain orchestration, powering complex global supply chains, and supporting the people who manage them. Our powerful, AI-infused supply chain orchestration platform, Maestro, combines proprietary technologies and techniques that provide full transparency and agility across the entire supply chain - from multi-year strategic planning to last-mile delivery. We are trusted by renowned global brands to provide the agility and predictability needed to navigate today's volatility and disruption.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.