Kingsoft Cloud (NASDAQ:KC) Earns Buy Rating from Analysts at UBS Group

Investment analysts at UBS Group began coverage on shares of Kingsoft Cloud (NASDAQ:KC) in a report released on Thursday. The brokerage set a “buy” rating and a $14.00 price target on the stock. UBS Group’s price objective points to a potential upside of 21.95% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Monday, May 5th. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 target price on the stock in a research note on Monday, May 5th.

Kingsoft Cloud Trading Up 3.1%

Shares of Kingsoft Cloud stock opened at $11.48 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $22.26. The stock has a 50 day moving average price of $13.04 and a two-hundred day moving average price of $12.78. The stock has a market capitalization of $3.16 billion, a PE ratio of -9.57 and a beta of 2.12.

Kingsoft Cloud (NASDAQ:KC) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the firm posted $0.08 earnings per share. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, equities analysts anticipate that Kingsoft Cloud will post -0.63 earnings per share for the current fiscal year.

Institutional Trading of Kingsoft Cloud

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Kingsoft Cloud by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after buying an additional 2,200 shares in the last quarter. Man Group plc purchased a new stake in Kingsoft Cloud during the 4th quarter valued at about $711,000. Quantbot Technologies LP purchased a new stake in Kingsoft Cloud during the 4th quarter valued at about $226,000. Invesco Ltd. lifted its holdings in Kingsoft Cloud by 8.4% in the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company’s stock worth $659,000 after buying an additional 4,878 shares during the period. Finally, Millennium Management LLC lifted its holdings in Kingsoft Cloud by 4,098.3% in the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company’s stock worth $9,389,000 after buying an additional 873,686 shares during the period. 13.40% of the stock is currently owned by institutional investors.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.