Kyndryl (NYSE:KD) Hits New 52-Week High Following Analyst Upgrade

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from $28.00 to $30.00. Scotiabank currently has a sector outperform rating on the stock. Kyndryl traded as high as $27.67 and last traded at $27.63, with a volume of 1883927 shares traded. The stock had previously closed at $26.35.

Separately, Susquehanna upped their price objective on Kyndryl from $27.00 to $33.00 and gave the stock a "positive" rating in a report on Thursday, May 9th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, Kyndryl currently has an average rating of "Buy" and an average price target of $28.50.

Institutional Investors Weigh In On Kyndryl

Several institutional investors have recently bought and sold shares of KD. Deutsche Bank AG raised its position in Kyndryl by 1,266.6% during the 3rd quarter. Deutsche Bank AG now owns 4,865,411 shares of the company's stock valued at $73,468,000 after purchasing an additional 4,509,381 shares during the last quarter. Amalgamated Bank raised its position in Kyndryl by 28.8% during the 3rd quarter. Amalgamated Bank now owns 172,130 shares of the company's stock valued at $2,599,000 after purchasing an additional 38,437 shares during the last quarter. Hennessy Advisors Inc. bought a new position in Kyndryl during the 4th quarter valued at approximately $28,992,000. American Century Companies Inc. raised its position in Kyndryl by 510.3% during the 3rd quarter. American Century Companies Inc. now owns 440,015 shares of the company's stock valued at $6,644,000 after purchasing an additional 367,912 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Kyndryl by 70.8% during the 3rd quarter. Hsbc Holdings PLC now owns 129,148 shares of the company's stock valued at $1,949,000 after purchasing an additional 53,516 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Price Performance

The business has a 50-day simple moving average of $21.66 and a 200 day simple moving average of $20.35. The firm has a market cap of $6.39 billion, a P/E ratio of -18.62, a price-to-earnings-growth ratio of 7.68 and a beta of 1.57. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.94 and a current ratio of 0.94.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.11. Kyndryl had a negative return on equity of 4.01% and a negative net margin of 2.12%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the company posted ($0.21) EPS. Kyndryl's quarterly revenue was down 9.5% compared to the same quarter last year. On average, analysts anticipate that Kyndryl Holdings, Inc. will post 0.71 earnings per share for the current fiscal year.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.