Kinaxis Inc (TSX: KXS), the Technology company, was revisited by a Wall Street analyst today. The company received a Buy rating from Canaccord Genuity’s analyst Robert Young, with a C$100 price target.
Young said:
“Kinaxis hosted its annual customer conference in Washington, D.C. this week with attendance up modestly over last year. Management continues to be bullish on the impact of investments in sales and marketing and growing channel engagement. The conference hosted representatives from more countries than prior years with increased involvement from a testament to the company’s aggressive international expansion efforts. We continue to see tremendous potential for Kinaxis to penetrate large enterprises from its current stable of ~140 customers (our estimate) relative to 2,000 targeted. Kinaxis continues to expand and mature its channel partnerships which allow the company to manage its capacity for growth.”
Young has an average return of 27.1% when recommending Kinaxis Inc.
According to TipRanks.com, Young is ranked #440 out of 4893 analysts.
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Currently, the analyst consensus on Kinaxis Inc is a Strong Buy with an average price target of C$104.63.
The company has a one-year high of C$100.68 and a one-year low of C$63.15. Currently, Kinaxis Inc has an average volume of 70.64K.
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 Thursday at C$90.37.
