The Globe and Mail reports in its Wednesday, Dec. 17, edition that National Bank Financial analyst Richard Tse continues to rank Kinaxis "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Tse has an unchanged $240 share target on Kinaxis. Analysts on average target the shares at $229.50. Mr. Tse says in a note: "Q3'25 delivered record SaaS growth (up 17 per cent year-over-year) and ARR acceleration (up 17 per cent year-over-year vs. up 11.8 per cent exiting FY24), prompting a guidance increase to 15–17 per cent (from 13 to 15 per cent) SaaS growth for FY25. STL conversions to SaaS and strong bookings (second highest ever after Q4'24) setting up recurring revenue visibility and higher quality earnings into FY26. That STL shift to SaaS is positive in that it reflects growing demand for an AI-infused product set like Maestro agents. Further, expansion orders of new ARR in the quarter was largely driven by demand for new applications, reflecting support for the company's product investments. In our view, Kinaxis has been executing on product cycle; a key reason behind its record bookings and strong win rates."