Kyndryl (NYSE:KD) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded Kyndryl from “strong sell” to “hold,” while the broader analyst consensus remains “Reduce,” with seven Hold ratings and two Sell ratings and an average price target of $16.50.
• Kyndryl shares opened at $13.21, down 2.6%, with a market capitalization of approximately $2.88 billion. The stock has traded between $10.10 and $32.30 over the past 52 weeks.
• In its latest quarter, Kyndryl reported an adjusted loss of $0.12 per share, beating expectations for a $0.16 loss, while revenue of $3.62 billion fell 3.3% year over year and slightly missed estimates.

Kyndryl (NYSE:KD - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday, Zacks reports.

A number of other analysts also recently weighed in on the company. Weiss Ratings downgraded Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. BMO Capital Markets reissued a "market perform" rating and issued a $16.00 target price on shares of Kyndryl in a report on Thursday, August 6th. Susquehanna lowered shares of Kyndryl from a "positive" rating to a "neutral" rating and decreased their target price for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Kyndryl from $13.00 to $14.00 and gave the stock an "underweight" rating in a research note on Monday, August 10th. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $16.50.

Kyndryl Stock Down 2.6%

Shares of NYSE:KD opened at $13.21 on Monday. Kyndryl has a fifty-two week low of $10.10 and a fifty-two week high of $32.30. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.96. The firm's 50-day simple moving average is $12.91 and its 200-day simple moving average is $12.61. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 35.72 and a beta of 1.64.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm had revenue of $3.62 billion during the quarter, compared to analysts' expectations of $3.64 billion. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. As a group, equities research analysts predict that Kyndryl will post 1.36 earnings per share for the current year.

Hedge Funds Weigh In On Kyndryl

Hedge funds and other institutional investors have recently bought and sold shares of the company. Waterfront Wealth Inc. purchased a new position in shares of Kyndryl during the 1st quarter worth $2,740,000. Hara Capital LLC purchased a new stake in shares of Kyndryl in the second quarter valued at $1,011,000. Hsbc Holdings PLC grew its position in shares of Kyndryl by 421.2% in the fourth quarter. Hsbc Holdings PLC now owns 248,130 shares of the company's stock valued at $6,558,000 after purchasing an additional 200,522 shares during the period. Corient Private Wealth LP increased its stake in Kyndryl by 768.6% in the second quarter. Corient Private Wealth LP now owns 96,657 shares of the company's stock valued at $1,093,000 after purchasing an additional 85,529 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Kyndryl by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company's stock valued at $118,997,000 after purchasing an additional 63,846 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Company Profile

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.

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