Kingsoft Cloud Holdings Limited (NASDAQ:KC) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) have been given an average rating of "Moderate Buy" by the six research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $4.55.

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Kingsoft Cloud from a "neutral" rating to an "overweight" rating in a research note on Monday, March 11th. Jefferies Financial Group upped their target price on shares of Kingsoft Cloud from $3.40 to $3.80 and gave the stock a "buy" rating in a research report on Monday, March 25th. Citigroup upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $5.00 price target for the company in a research note on Thursday, March 21st. Finally, CLSA raised shares of Kingsoft Cloud from an "underperform" rating to an "outperform" rating and set a $4.40 price objective on the stock in a research note on Thursday, March 21st.

Hedge Funds Weigh In On Kingsoft Cloud

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in Kingsoft Cloud by 220.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company's stock valued at $30,000 after acquiring an additional 3,400 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Kingsoft Cloud by 98.6% in the third quarter. Rhumbline Advisers now owns 5,600 shares of the company's stock worth $28,000 after purchasing an additional 2,780 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Kingsoft Cloud by 101.6% during the second quarter. Royal Bank of Canada now owns 7,938 shares of the company's stock valued at $48,000 after purchasing an additional 4,000 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Kingsoft Cloud during the third quarter valued at $53,000. Finally, Engineers Gate Manager LP bought a new stake in Kingsoft Cloud in the 1st quarter worth about $67,000. Hedge funds and other institutional investors own 13.40% of the company's stock.

Kingsoft Cloud Price Performance

NASDAQ:KC traded down $0.01 during trading hours on Friday, hitting $2.65. The company had a trading volume of 555,089 shares, compared to its average volume of 1,315,872. Kingsoft Cloud has a 52 week low of $2.34 and a 52 week high of $8.03. The company has a market capitalization of $672.28 million, a PE ratio of -2.05 and a beta of 2.13. The stock has a 50-day moving average price of $2.96 and a 200 day moving average price of $3.64.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Kingsoft Cloud had a negative net margin of 30.81% and a negative return on equity of 27.14%. The company had revenue of $242.60 million for the quarter, compared to analysts' expectations of $240.44 million. Analysts anticipate that Kingsoft Cloud will post -0.45 EPS for the current fiscal year.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations 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, storage, and delivery solutions.