Kyndryl Holdings, Inc. (NYSE:KD) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have been given an average recommendation of “Reduce” by the nine analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $16.6667.

A number of analysts have weighed in on the company. Scotiabank decreased their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. BMO Capital Markets assumed coverage on Kyndryl in a research report on Monday, April 20th. They set a “market perform” rating and a $15.00 target price on the stock. Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $13.00 in a research note on Thursday, May 21st. Finally, Morgan Stanley lowered their target price on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th.

Kyndryl Stock Up 0.9%

Shares of KD opened at $12.38 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. Kyndryl has a 52 week low of $10.10 and a 52 week high of $44.20. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 14.57 and a beta of 1.67. The stock has a fifty day moving average of $11.99 and a 200-day moving average of $15.84.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. As a group, sell-side analysts anticipate that Kyndryl will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kyndryl

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Kyndryl by 386.2% in the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after purchasing an additional 3,326,025 shares in the last quarter. Cooper Creek Partners Management LLC increased its stake in Kyndryl by 498.5% during the 1st quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock valued at $51,115,000 after purchasing an additional 3,245,013 shares in the last quarter. Sound Shore Management Inc. CT raised its holdings in Kyndryl by 39.5% in the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after buying an additional 1,173,761 shares during the last quarter. Norges Bank bought a new position in shares of Kyndryl in the fourth quarter worth approximately $19,539,000. Finally, UBS Group AG lifted its stake in shares of Kyndryl by 50.0% in the third quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock worth $60,911,000 after buying an additional 675,943 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

About Kyndryl

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.