Kyndryl Holdings, Inc. (NYSE:KD) Stock Has Average Target Price of $16.50

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have earned an average recommendation of “Reduce” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.67.

KD has been the topic of several recent research reports. Scotiabank increased their price objective on Kyndryl from $15.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 5th. Susquehanna lifted their target price on Kyndryl from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. Zacks Research raised shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kyndryl in a research report on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, August 10th.

Kyndryl Stock Performance

Shares of KD stock opened at $16.86 on Thursday. Kyndryl has a 52 week low of $10.10 and a 52 week high of $27.83. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 23.39 and a beta of 1.62. The company has a 50-day simple moving average of $13.10 and a 200 day simple moving average of $13.33. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Kyndryl had a return on equity of 13.00% and a net margin of 0.52%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. On average, sell-side analysts predict that Kyndryl will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KD. State Street Corp boosted its stake in shares of Kyndryl by 6.8% in the second quarter. State Street Corp now owns 7,792,865 shares of the company’s stock valued at $88,137,000 after buying an additional 492,925 shares during the period. Sound Shore Management Inc. CT raised its holdings in Kyndryl by 39.5% in the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock valued at $54,422,000 after acquiring an additional 1,173,761 shares in the last quarter. Cooper Creek Partners Management LLC raised its holdings in Kyndryl by 498.5% in 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 acquiring an additional 3,245,013 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Kyndryl by 12.8% during the 1st quarter. Bank of America Corp DE now owns 1,792,792 shares of the company’s stock valued at $23,521,000 after acquiring an additional 203,032 shares during the period. Finally, Arnhold LLC lifted its position in shares of Kyndryl by 6.1% during the 3rd quarter. Arnhold LLC now owns 2,058,952 shares of the company’s stock valued at $23,184,000 after acquiring an additional 118,880 shares during the period. 71.53% of the stock is owned by institutional investors.

About Kyndryl