Analysts seem to be feeling optimistic about Kinaxis Inc (TSX: KXS) lately, as another research firm gave the stock a Buy rating today. Analyst Robert Young from Canaccord Genuity rated Kinaxis Inc (TSX: KXS) a Buy, setting a C$100 price target.
Young observed:
“Kinaxis’ CFO Richard Monkman joined us at Canaccord Genuity’s 38th annual Boston, presenting to a full room of investors. Following a strong second quarter where the company exceeded estimates and raised its guide, the company flagged some familiar themes in its presentation: a growing international profile, accelerating partner/channel engagement and strong subscription growth. Kinaxis also reiterated its confidence in the competitive differentiation it maintains with meaningful competitors (SAP, JDA, etc.) based on concurrency of SCM data and ability to support multiple scenario analysis sessions on large data sets. Continued investment in machine learning should support the company’s differentiated offering and strong position in the marketplace, with customers currently using the self-healing solution.”
Young has an average return of 26.1% when recommending Kinaxis Inc.
According to TipRanks.com, Young is ranked #420 out of 4850 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$102.89 average price target, representing a 4.8% upside. In a report issued on August 3, Laurentian Bank of Canada also maintained a Buy rating on the stock with a C$105 price target.
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Based on Kinaxis Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$5.51 million. In comparison, last year the company had a net profit of C$7.58 million.
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$98.18.
