Kyndryl (NYSE:KD) Price Target Raised to $14.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Kyndryl’s price target from $13 to $14 but maintained an “underweight” rating, implying only 2.38% upside from the prior close.
• Analyst sentiment remains cautious: Kyndryl has an average “Reduce” rating and a consensus price target of $16.50, with seven Hold ratings and two Sell ratings.
• Kyndryl beat quarterly EPS expectations ($0.12 loss versus a projected $0.16 loss), but revenue declined 3.3% year over year to $3.62 billion.

Kyndryl (NYSE:KD - Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $13.00 to $14.00 in a report released on Monday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 2.38% from the company's previous close.

A number of other equities research analysts also recently weighed in on KD. Scotiabank reduced their price target on shares of Kyndryl from $16.50 to $15.00 and set a "sector perform" rating on the stock in a research note on Friday, May 8th. Weiss Ratings cut shares of Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday. Susquehanna downgraded shares of Kyndryl from a "positive" rating to a "neutral" rating and dropped their price objective for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Wall Street Zen lowered shares of Kyndryl from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Zacks Research upgraded shares of Kyndryl from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Seven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Kyndryl presently has an average rating of "Reduce" and an average target price of $16.50.

Kyndryl Price Performance

Shares of KD stock traded down $0.34 on Monday, hitting $13.68. 1,825,349 shares of the company's stock were exchanged, compared to its average volume of 4,668,262. The company has a 50 day moving average of $12.16 and a 200 day moving average of $13.57. The stock has a market cap of $2.98 billion, a P/E ratio of 36.93 and a beta of 1.64. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.85 and a quick ratio of 0.85. Kyndryl has a 12 month low of $10.10 and a 12 month high of $33.90.

Kyndryl (NYSE:KD - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.04. The firm had revenue of $3.62 billion for the quarter, compared to analysts' expectations of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. On average, equities research analysts predict that Kyndryl will post 1.54 EPS for the current year.

Institutional Investors Weigh In On Kyndryl

Several hedge funds have recently added to or reduced their stakes in KD. Public Employees Retirement System of Ohio grew its position in Kyndryl by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company's stock valued at $2,331,000 after acquiring an additional 421 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Kyndryl by 17.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company's stock worth $92,000 after acquiring an additional 448 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Kyndryl by 62.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company's stock valued at $62,000 after purchasing an additional 570 shares in the last quarter. Equitable Holdings Inc. grew its holdings in shares of Kyndryl by 2.8% during the 3rd quarter. Equitable Holdings Inc. now owns 25,560 shares of the company's stock valued at $768,000 after purchasing an additional 698 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Kyndryl by 1.2% during the 4th quarter. Handelsbanken Fonder AB now owns 58,600 shares of the company's stock valued at $1,556,000 after purchasing an additional 700 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

About Kyndryl

Kyndryl NYSE: KD is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM's Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl's core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.

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