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

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have received a consensus recommendation of “Reduce” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $22.1429.

A number of equities analysts have commented on the stock. Guggenheim downgraded shares of Kyndryl from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. downgraded shares of Kyndryl from an “overweight” rating to an “underweight” rating and set a $16.00 price objective for the company. in a research report on Monday, February 9th. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Scotiabank cut their price objective on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 18th.

Kyndryl Stock Down 0.0%

Shares of NYSE:KD opened at $11.62 on Monday. The stock has a market cap of $2.55 billion, a P/E ratio of 13.66 and a beta of 1.66. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.88. Kyndryl has a 1-year low of $10.10 and a 1-year high of $44.20. The firm has a fifty day moving average price of $12.78 and a 200 day moving average price of $18.05.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Sell-side analysts predict that Kyndryl will post 1.59 EPS for the current year.

Hedge Funds Weigh In On Kyndryl

Large investors have recently made changes to their positions in the stock. Western Wealth Management LLC purchased a new position in shares of Kyndryl in the 1st quarter valued at about $29,000. Los Angeles Capital Management LLC purchased a new position in shares of Kyndryl in the 4th quarter valued at about $29,000. Quarry LP purchased a new position in shares of Kyndryl in the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC increased its holdings in shares of Kyndryl by 192.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company’s stock valued at $35,000 after purchasing an additional 770 shares in the last quarter. Finally, NBT Bank N A NY increased its holdings in shares of Kyndryl by 3,220.0% in the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock valued at $35,000 after purchasing an additional 1,288 shares in the last quarter. Hedge funds and other 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.