Analysts at Scotiabank assumed coverage on shares of Kyndryl (NYSE:KD – Get Free Report) in a research note issued on Tuesday. The brokerage set a “sector outperform” rating and a $40.00 price target on the stock. Scotiabank’s target price would indicate a potential upside of 65.56% from the company’s previous close.
KD has been the topic of several other research reports. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Susquehanna set a $35.00 price target on shares of Kyndryl in a research note on Thursday, November 6th. Guggenheim raised shares of Kyndryl to a “strong-buy” rating in a report on Wednesday, November 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Kyndryl in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.33.
View Our Latest Stock Report on KD
Kyndryl Stock Performance
Shares of KD stock traded down $0.29 during trading hours on Tuesday, reaching $24.16. 415,171 shares of the company’s stock were exchanged, compared to its average volume of 1,882,392. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.24. Kyndryl has a fifty-two week low of $23.28 and a fifty-two week high of $44.20. The business has a fifty day moving average price of $26.10 and a 200-day moving average price of $29.50. The stock has a market capitalization of $5.52 billion, a P/E ratio of 14.30 and a beta of 1.85.
Kyndryl (NYSE:KD – Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. Kyndryl had a net margin of 2.71% and a return on equity of 25.76%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the company earned $0.01 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Analysts predict that Kyndryl will post 0.73 EPS for the current fiscal year.
Insider Buying and Selling
In related news, SVP Vineet Khurana sold 6,641 shares of Kyndryl stock in a transaction on Friday, December 5th. The shares were sold at an average price of $26.69, for a total transaction of $177,248.29. Following the completion of the transaction, the senior vice president owned 59,708 shares of the company’s stock, valued at $1,593,606.52. This trade represents a 10.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by insiders.
Institutional Investors Weigh In On Kyndryl
Several hedge funds and other institutional investors have recently bought and sold shares of KD. State of Alaska Department of Revenue grew its stake in Kyndryl by 205.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 79,648 shares of the company’s stock valued at $2,391,000 after buying an additional 53,556 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Kyndryl in the second quarter worth $10,930,000. Convergence Investment Partners LLC purchased a new position in shares of Kyndryl in the second quarter valued at $2,625,000. Geode Capital Management LLC raised its stake in shares of Kyndryl by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 4,277,559 shares of the company’s stock valued at $179,515,000 after purchasing an additional 203,986 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Kyndryl by 36.7% during the 2nd quarter. American Century Companies Inc. now owns 838,277 shares of the company’s stock worth $35,174,000 after purchasing an additional 225,031 shares in the last quarter. 71.53% of the stock is owned by institutional investors.
Kyndryl Company Profile
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.
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