Kyndryl (NYSE:KD) Stock Rating Upgraded by Zacks Research

Kyndryl (NYSE:KD) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, Zacks reports.

Other analysts have also recently issued reports about the company. Scotiabank upped their target price on Kyndryl from $15.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, November 5th. BMO Capital Markets reissued a “market perform” rating and set a $16.00 target price on shares of Kyndryl in a research report on Thursday, August 6th. Susquehanna raised their price target on shares of Kyndryl from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. JPMorgan Chase & Co. boosted 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kyndryl in a research note on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.67.

Kyndryl Trading Down 1.5%

NYSE:KD traded down $0.25 during trading hours on Thursday, hitting $16.81. 2,122,952 shares of the company were exchanged, compared to its average volume of 4,600,816. The company has a fifty day simple moving average of $13.41 and a 200 day simple moving average of $13.19. Kyndryl has a one year low of $10.10 and a one year high of $27.83. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 48.02 and a beta of 1.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 2.79.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. Kyndryl had a return on equity of 13.21% and a net margin of 0.52%. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s quarterly revenue was down 1.9% on a year-over-year basis. Sell-side analysts expect that Kyndryl will post 1.36 EPS for the current fiscal year.

Institutional Trading of Kyndryl

A number of large investors have recently bought and sold shares of the business. Trust Co. of Vermont bought a new position in shares of Kyndryl in the 2nd quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Kyndryl during the 3rd quarter valued at about $26,000. Versant Capital Management Inc boosted its position in shares of Kyndryl by 104.1% during the 2nd quarter. Versant Capital Management Inc now owns 2,418 shares of the company’s stock valued at $27,000 after purchasing an additional 1,233 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Kyndryl during the 1st quarter valued at about $29,000. Finally, IFP Advisors Inc grew its stake in Kyndryl by 44.8% during the second quarter. IFP Advisors Inc now owns 3,256 shares of the company’s stock worth $37,000 after purchasing an additional 1,008 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

About Kyndryl

Kyndryl Holdings, Inc. is an information technology services company that helps organizations design, build, manage and modernize the technology systems they rely on for daily operations. Its services include managing cloud and data-center environments, applications, networks, mainframe systems, cybersecurity and digital workplaces. The company was formed from IBM’s managed infrastructure services business and began operating as an independent public company in 2021. Kyndryl serves customers across a range of industries and geographies, helping them maintain and update complex technology environments.