Kinaxis Inc (KXS) Gets a Buy Rating from Canaccord Genuity


Shares of Kinaxis Inc (KXS) were revisited by a Wall Street analyst today. Analyst Robert Young from Canaccord Genuity rated Kinaxis Inc (KXS) a Buy, setting a C$96 price target.

Young commented:

“Kinaxis reported mixed Q4 results alongside an in-line revenue guide for 2019. Management remains confident on acceleration in 2019 with a growing funnel. Key wins in CPG and Auto are proof of market fit and ability to handle scale while new products like Chain are incentives for upsell. SaaS backlog for 2019 of C$100.5M (at Dec 31) explains 84% of the SaaS guidance of C$118.6-120.5M by our math, which suggests it is very attainable. We believe the guide may be conservative and leaves room for upside through the year, supported by sales investments made in 2018 and channel partner expansion, including the addition of EY at the end of the year. Adj. EBITDA margin guidance of 23-25% for 2019 missed lofty street expectations but we would argue the range is in line with management’s long-term guidance.”

Young has an average return of 20.2% when recommending Kinaxis Inc.

According to TipRanks.com, Young is ranked #334 out of 5224 analysts.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kinaxis Inc with a C$90.33 average price target, representing a 18.8% upside. In a report issued on February 15, Scotiabank also reiterated a Buy rating on the stock with a C$86 price target.

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The company has a one-year high of C$100.68 and a one-year low of C$60.01. Currently, Kinaxis Inc has an average volume of 100.7K.

Kinaxis, Inc. engages in the provision of cloud-based subscription software. Its product is RapidResponse, which provides supply chain planning and analytics capabilities that create the foundation for managing multiple, interconnected supply chain management processes, including demand planning, supply planning, inventory management, order fulfillment and capacity planning. The company was founded by Duncan Klett in 1984 and is headquartered in Ottawa, Canada.

The company’s shares closed on Friday at C$76.06.

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