Kinaxis Inc (TSX: KXS), the Technology company, has received a rating update from a Wall Street analyst on August 3. The company received a Buy on August 3 from TD Securities’ analyst Daniel Chan, with a C$105 price target.
Chan has an average return of 16.8% when recommending Kinaxis Inc.
According to TipRanks.com, Chan is ranked #644 out of 4848 analysts.
Currently, the analyst consensus on Kinaxis Inc is a Strong Buy with an average price target of C$102.29, representing a 10.4% 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.
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 Friday at C$92.65, close to its 52-week high of C$96.55.