Kingsoft Cloud (NASDAQ:KC) Upgraded by Nomura to Buy Rating

Kingsoft Cloud (NASDAQ:KC - Get Free Report) was upgraded by equities research analysts at Nomura from a "neutral" rating to a "buy" rating in a research note issued on Monday, MarketBeat reports. The firm presently has a $18.30 target price on the stock. Nomura's price target indicates a potential upside of 28.60% from the company's current price.

Separately, Nomura Securities downgraded Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd.

Kingsoft Cloud Stock Performance

Shares of KC stock traded up $0.15 during mid-day trading on Monday, reaching $14.23. The stock had a trading volume of 1,501,363 shares, compared to its average volume of 2,738,453. Kingsoft Cloud has a one year low of $2.02 and a one year high of $22.26. The firm has a market cap of $3.86 billion, a PE ratio of -11.86 and a beta of 2.24. The firm's 50 day simple moving average is $14.46 and its 200 day simple moving average is $11.54. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same period last year, the business earned $0.08 earnings per share. Kingsoft Cloud's quarterly revenue was up 29.6% compared to the same quarter last year. On average, analysts forecast that Kingsoft Cloud will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of KC. Mirae Asset Global Investments Co. Ltd. increased its position in Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after acquiring an additional 2,200 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Kingsoft Cloud by 13.8% during the fourth quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock valued at $285,000 after purchasing an additional 3,300 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Kingsoft Cloud in the first quarter valued at approximately $65,000. Invesco Ltd. raised its position in Kingsoft Cloud by 8.4% in the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company's stock worth $659,000 after purchasing an additional 4,878 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Kingsoft Cloud during the 1st quarter worth $78,000. 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.