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

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have been given a consensus recommendation of “Reduce” by the nine analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.50.

A number of equities research analysts have commented on KD shares. 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 report on Monday, August 10th. BMO Capital Markets reiterated a “market perform” rating and set a $16.00 price objective on shares of Kyndryl in a report on Thursday, August 6th. Susquehanna cut 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. Weiss Ratings downgraded Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th.

Institutional Investors Weigh In On Kyndryl

A number of hedge funds have recently added to or reduced their stakes in KD. Cooper Creek Partners Management LLC increased its holdings in shares of 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. Sound Shore Management Inc. CT raised its position in shares of Kyndryl by 39.5% during the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after purchasing an additional 1,173,761 shares during the period. Norges Bank acquired a new position in shares of Kyndryl during the fourth quarter worth approximately $19,539,000. Jupiter Topco LLC bought a new position in shares of Kyndryl in the 2nd quarter worth $6,672,000. Finally, Amundi lifted its holdings in shares of Kyndryl by 145.5% in the 2nd quarter. Amundi now owns 708,203 shares of the company’s stock worth $8,010,000 after purchasing an additional 419,708 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

Kyndryl stock opened at $13.21 on Wednesday. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 35.72 and a beta of 1.64. Kyndryl has a 52-week low of $10.10 and a 52-week high of $32.30. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day moving average price is $12.91 and its two-hundred day moving average price is $12.61.

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

About Kyndryl

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.