Kingsoft Cloud (NASDAQ:KC - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01, Briefing.com reports. The company had revenue of $271.38 million for the quarter, compared to analysts' expectations of $2.20 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. Kingsoft Cloud's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS.
Kingsoft Cloud Stock Performance
KC traded down $0.75 during midday trading on Friday, hitting $11.06. 2,410,119 shares of the company traded hands, compared to its average volume of 2,785,445. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $22.26. The firm has a market capitalization of $3.04 billion, a PE ratio of -9.22 and a beta of 2.24. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company's 50-day moving average is $13.35 and its 200 day moving average is $12.59.
Analyst Ratings Changes
KC has been the topic of several research analyst reports. Nomura Securities upgraded shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price on the stock in a research note on Monday, May 5th.
Check Out Our Latest Research Report on Kingsoft Cloud
Institutional Investors Weigh In On Kingsoft Cloud
An institutional investor recently raised its position in Kingsoft Cloud stock. Goldman Sachs Group Inc. increased its position in Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 9.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,634 shares of the company's stock after acquiring an additional 11,720 shares during the quarter. Goldman Sachs Group Inc.'s holdings in Kingsoft Cloud were worth $1,919,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.40% of the company's stock.
Kingsoft Cloud Company Profile
(
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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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