Kyndryl Holdings, Inc. (NYSE:KD) Stock Has Consensus Price Target of $16.50 According to Analysts

Key Points

• Analysts maintain a cautious view of Kyndryl: Nine brokerages give the stock an average “Reduce” rating, with two sells and seven holds. The consensus 12-month price target is $16.50, compared with a recent share price of $11.72.
• Kyndryl’s latest quarterly results beat expectations on adjusted earnings, reporting a loss of $0.12 per share versus the projected $0.16 loss, while revenue of $3.62 billion fell short of estimates and declined 3.3% year over year.
• Institutional ownership remains high at 71.53%: Several major investors increased their positions, including Cooper Creek Partners, Sound Shore Management, State Street and Amundi.

Shares of Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) have earned an average recommendation of "Reduce" from the nine brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $16.50.

A number of equities analysts have weighed in on KD shares. Zacks Research raised Kyndryl from a "strong sell" rating to a "hold" rating in a research report on Monday, September 14th. JPMorgan Chase & Co. lifted their target price on Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Monday, August 10th. Weiss Ratings lowered Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $16.00 target price on shares of Kyndryl in a report on Thursday, August 6th.

Kyndryl Trading Down 1.3%

Shares of NYSE KD opened at $11.72 on Friday. Kyndryl has a twelve month low of $10.10 and a twelve month high of $29.87. 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 $2.55 billion, a price-to-earnings ratio of 31.69 and a beta of 1.66. The company's fifty day moving average is $12.71 and its 200-day moving average is $12.51.

Kyndryl (NYSE:KD - Get Free Report) last announced 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 company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. Equities research analysts predict that Kyndryl will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Cooper Creek Partners Management LLC lifted its stake in Kyndryl by 498.5% in the 1st quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company's stock valued at $51,115,000 after purchasing an additional 3,245,013 shares during the last quarter. Sound Shore Management Inc. CT boosted its stake in Kyndryl by 39.5% in the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company's stock valued at $54,422,000 after purchasing an additional 1,173,761 shares during the period. Jupiter Topco LLC bought a new stake in shares of Kyndryl in the second quarter valued at about $6,672,000. State Street Corp boosted its holdings in Kyndryl by 6.8% in the 2nd quarter. State Street Corp now owns 7,792,865 shares of the company's stock valued at $88,137,000 after purchasing an additional 492,925 shares during the period. Finally, Amundi grew its position in Kyndryl by 145.5% during the second quarter. Amundi now owns 708,203 shares of the company's stock worth $8,010,000 after buying an additional 419,708 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.

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 include managed infrastructure, cloud solutions, application management, network and edge services, cybersecurity, data and artificial intelligence, and technology consulting.

The company helps clients operate and transform complex IT environments, including hybrid cloud and traditional on-premises systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.