Analysts Set Kyndryl Holdings, Inc. (NYSE:KD) PT at $16.50

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have been given a consensus recommendation of “Reduce” by the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.50.

Several brokerages have recently commented on KD. Weiss Ratings cut Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, August 10th. BMO Capital Markets reissued a “market perform” rating and issued a $16.00 price target on shares of Kyndryl in a research report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th.

Kyndryl Price Performance

KD stock opened at $12.03 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. Kyndryl has a one year low of $10.10 and a one year high of $32.08. The firm has a market capitalization of $2.62 billion, a PE ratio of 32.52 and a beta of 1.64. The firm has a 50-day moving average of $12.95 and a two-hundred day moving average of $12.60.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm’s revenue was down 3.3% compared to the same quarter last year. On average, analysts forecast that Kyndryl will post 1.36 earnings per share for the current year.

Institutional Trading of Kyndryl

A number of institutional investors have recently bought and sold shares of KD. Geode Capital Management LLC raised its stake in shares of Kyndryl by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock worth $118,997,000 after purchasing an additional 63,846 shares in the last quarter. State Street Corp increased its holdings in Kyndryl by 6.8% in the second quarter. State Street Corp now owns 7,792,865 shares of the company’s stock worth $88,137,000 after buying an additional 492,925 shares during the last quarter. Sound Shore Management Inc. CT increased its holdings in Kyndryl by 46.1% in the fourth quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company’s stock worth $78,995,000 after buying an additional 939,154 shares during the last quarter. Cooper Creek Partners Management LLC raised its position in Kyndryl by 498.5% during the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock valued at $51,115,000 after acquiring an additional 3,245,013 shares in the last quarter. Finally, Royce & Associates LP raised its position in Kyndryl by 10.8% during the fourth quarter. Royce & Associates LP now owns 1,917,036 shares of the company’s stock valued at $50,916,000 after acquiring an additional 186,620 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Company Profile

Kyndryl Holdings, Inc (NYSE: KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services support hybrid cloud environments, enterprise data centers, networks, applications and digital workplaces.

The company provides consulting and implementation services, cloud infrastructure management, cybersecurity, network and edge services, mainframe and data-center operations, and data and artificial intelligence solutions.