Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Kinaxis (TSE:KXS) Stock

Kinaxis (TSE:KXS) had its price target raised by equities researchers at Canadian Imperial Bank of Commerce from C$173.00 to C$205.00 in a note issued to investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 22.03% from the stock’s previous close.

Several other research analysts also recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Kinaxis from C$180.00 to C$185.00 in a research report on Friday, May 8th. Royal Bank Of Canada raised their price target on shares of Kinaxis from C$200.00 to C$210.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Canaccord Genuity Group reduced their price target on shares of Kinaxis from C$225.00 to C$200.00 in a research note on Friday, March 6th. National Bank Financial reduced their price target on shares of Kinaxis from C$240.00 to C$200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Finally, Stifel Nicolaus reduced their price target on shares of Kinaxis from C$245.00 to C$200.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$200.00.

Kinaxis Stock Performance

TSE:KXS traded up C$0.18 during mid-day trading on Friday, reaching C$167.99. 66,220 shares of the company’s stock were exchanged, compared to its average volume of 137,574. Kinaxis has a one year low of C$117.22 and a one year high of C$212.45. The firm has a market capitalization of C$4.59 billion, a PE ratio of 57.14, a price-to-earnings-growth ratio of 3.60 and a beta of 0.68. The business’s fifty day simple moving average is C$144.71 and its two-hundred day simple moving average is C$150.38. The company has a debt-to-equity ratio of 12.15, a quick ratio of 2.29 and a current ratio of 1.72.

Kinaxis (TSE:KXS) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.45 EPS for the quarter. Kinaxis had a net margin of 14.48% and a return on equity of 19.72%. The business had revenue of C$230.19 million for the quarter. Analysts anticipate that Kinaxis will post 4.2526231 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kinaxis news, Director Robert G. Courteau sold 5,010 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of C$151.39, for a total transaction of C$758,463.90. Following the sale, the director directly owned 32,945 shares of the company’s stock, valued at C$4,987,543.55. The trade was a 13.20% decrease in their position. Also, insider Conrad John Mandala sold 924 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of C$137.14, for a total transaction of C$126,717.36. Following the sale, the insider directly owned 820 shares in the company, valued at C$112,454.80. The trade was a 52.98% decrease in their ownership of the stock. Insiders have sold a total of 35,934 shares of company stock worth $5,328,181 over the last three months. 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.