Deutsche Bank Aktiengesellschaft Begins Coverage on Kingsoft Cloud (NASDAQ:KC)

Key Points

• Deutsche Bank Aktiengesellschaft has initiated coverage on Kingsoft Cloud, assigning a "buy" rating with a price target of $21.00, indicating a potential upside of 35.95% from its previous close.
• Multiple analysts have recently upgraded their ratings on Kingsoft Cloud, resulting in a consensus rating of "Buy" and an average target price of $17.27.
• Kingsoft Cloud shares opened at $15.45 and have experienced a 1-year range between a low of $2.17 and a high of $22.26, indicating significant volatility in the stock price.

Research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Kingsoft Cloud (NASDAQ:KC - Get Free Report) in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $21.00 price target on the stock. Deutsche Bank Aktiengesellschaft's price target would suggest a potential upside of 35.95% from the company's previous close.

KC has been the topic of a number of other reports. Zacks Research raised shares of Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 21st. Wall Street Zen raised shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. Finally, Bank of America upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Kingsoft Cloud currently has a consensus rating of "Buy" and an average target price of $17.27.

Kingsoft Cloud Stock Down 5.5%

Kingsoft Cloud stock opened at $15.45 on Tuesday. Kingsoft Cloud has a 1-year low of $2.17 and a 1-year high of $22.26. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -13.55 and a beta of 2.18. The firm's fifty day moving average price is $14.30 and its two-hundred day moving average price is $13.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34.

Hedge Funds Weigh In On Kingsoft Cloud

Institutional investors and hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. purchased a new position in shares of Kingsoft Cloud in the second quarter worth approximately $27,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Kingsoft Cloud during the first quarter valued at approximately $65,000. Bayforest Capital Ltd bought a new stake in shares of Kingsoft Cloud during the first quarter valued at approximately $78,000. Atlas Capital Advisors Inc. bought a new stake in shares of Kingsoft Cloud during the first quarter valued at approximately $104,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of Kingsoft Cloud during the second quarter valued at approximately $100,000. Hedge funds and other institutional investors own 13.40% of the company's stock.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.

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