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

Key Points

• Zacks Research upgraded Kyndryl to “strong buy” from “hold.” Despite the upgrade, analysts overall have a consensus “hold” rating and an average price target of $17.67.
• Kyndryl reported quarterly EPS of $0.42, beating the $0.38 consensus estimate, and revenue of $3.65 billion, slightly above expectations. Revenue was down 1.9% year over year.
• Shares traded at $16.81 on Thursday, down $0.25; the stock’s reported 52-week range was $10.10 to $27.83.

Kyndryl (NYSE:KD - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday, Zacks reports.

KD has been the topic of a number of other research reports. Weiss Ratings restated a "sell (d)" rating on shares of Kyndryl in a research report on Tuesday, November 3rd. Scotiabank boosted their target price on shares of Kyndryl from $15.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 5th. BMO Capital Markets reiterated a "market perform" rating and set a $16.00 price target on shares of Kyndryl in a report on Thursday, August 6th. Susquehanna increased their price target on Kyndryl from $13.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Kyndryl has a consensus rating of "Hold" and a consensus target price of $17.67.

Kyndryl Price Performance

Shares of KD stock traded down $0.25 on Thursday, reaching $16.81. The company had a trading volume of 2,122,952 shares, compared to its average volume of 4,600,816. The stock has a market capitalization of $3.66 billion, a PE ratio of 48.02 and a beta of 1.62. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.79. Kyndryl has a one year low of $10.10 and a one year high of $27.83. The business's 50-day moving average is $13.41 and its 200 day moving average is $13.19.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.62 billion. Kyndryl had a net margin of 0.52% and a return on equity of 13.21%. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. Equities research analysts forecast that Kyndryl will post 1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KD. Trust Co. of Vermont acquired a new stake in Kyndryl during the 2nd quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Kyndryl during the 3rd quarter worth approximately $26,000. Versant Capital Management Inc increased its position in Kyndryl by 104.1% in the 2nd quarter. Versant Capital Management Inc now owns 2,418 shares of the company's stock valued at $27,000 after acquiring an additional 1,233 shares during the period. Western Wealth Management LLC acquired a new position in Kyndryl in the 1st quarter valued at approximately $29,000. Finally, IFP Advisors Inc increased its position in Kyndryl by 44.8% in the 2nd quarter. IFP Advisors Inc now owns 3,256 shares of the company's stock valued at $37,000 after acquiring an additional 1,008 shares during the period. Institutional investors and hedge funds own 71.53% of the company's stock.

Kyndryl Company Profile

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.

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