Kyndryl Holdings, Inc. (NYSE:KD) Receives Consensus Rating of "Reduce" from Analysts

Key Points

• Analysts have a consensus “Reduce” rating on Kyndryl, with three sell ratings and six holds among nine brokerages. The average 12-month price target is $16.50.
• Institutional investors own 71.53% of Kyndryl, with several funds increasing their positions, including Cooper Creek Partners Management, which raised its holdings by 498.5%.
• Kyndryl reported quarterly revenue of $3.62 billion, down 3.3% year over year, while adjusted earnings of negative $0.12 per share exceeded analysts’ expectations of negative $0.16.

Shares of Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) have received an average recommendation of "Reduce" from the nine brokerages that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

A number of equities analysts recently issued reports on the stock. BMO Capital Markets reiterated a "market perform" rating and set a $16.00 price objective on shares of Kyndryl in a research report on Thursday, August 6th. Zacks Research cut shares of Kyndryl from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Susquehanna downgraded shares of Kyndryl from a "positive" rating to a "neutral" rating and lowered their price target for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Weiss Ratings cut Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a report on Monday, August 10th.

Institutional Trading of Kyndryl

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cooper Creek Partners Management LLC lifted its holdings in Kyndryl by 498.5% in 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 buying an additional 3,245,013 shares during the period. Sound Shore Management Inc. CT grew its holdings in Kyndryl by 39.5% during the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company's stock worth $54,422,000 after acquiring an additional 1,173,761 shares during the period. Norges Bank bought a new position in shares of Kyndryl in the 4th quarter worth about $19,539,000. Jupiter Topco LLC bought a new position in shares of Kyndryl in the 2nd quarter worth about $6,672,000. Finally, Amundi lifted its stake in shares of Kyndryl by 145.5% in the 2nd quarter. Amundi now owns 708,203 shares of the company's stock valued at $8,010,000 after purchasing an additional 419,708 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Stock Performance

Kyndryl stock opened at $13.21 on Wednesday. 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 stock has a market cap of $2.88 billion, a PE ratio of 35.72 and a beta of 1.64. Kyndryl has a 12-month low of $10.10 and a 12-month high of $32.30. The business's 50-day moving average price is $12.91 and its two-hundred day moving average price is $12.61.

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

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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