Kingsoft Cloud (NASDAQ:KC) announced its earnings results on Tuesday. The company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($1.24), Fidelity Earnings reports. Kingsoft Cloud had a negative return on equity of 10.07% and a negative net margin of 10.68%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned ($0.07) EPS. The company’s revenue for the quarter was up 39.6% compared to the same quarter last year.
KC stock traded down $0.40 during trading on Thursday, hitting $19.31. The company had a trading volume of 1,979,667 shares, compared to its average volume of 1,521,916. The stock has a market cap of $4.32 billion, a PE ratio of -35.11 and a beta of 1.41. Kingsoft Cloud has a one year low of $17.37 and a one year high of $74.67. The business has a 50-day moving average of $25.95 and a 200-day moving average of $30.27.
Several research analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of Kingsoft Cloud from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, October 26th. Nomura Instinet restated a “neutral” rating and set a $33.00 target price (down from $45.00) on shares of Kingsoft Cloud in a report on Wednesday, September 29th. Zacks Investment Research downgraded shares of Kingsoft Cloud from a “hold” rating to a “sell” rating in a report on Thursday, October 28th. Finally, Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $33.00 in a report on Wednesday, September 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.00.
Kingsoft Cloud Company Profile
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; enterprise cloud services to customers in financial service, public service, and healthcare business, and others.
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