Kyndryl (NYSE:KD) Price Target Raised to $30.00 at Scotiabank

Kyndryl (NYSE:KD - Get Free Report) had its target price increased by investment analysts at Scotiabank from $28.00 to $30.00 in a research note issued on Monday, Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price target suggests a potential upside of 13.87% from the stock's current price.

Separately, Susquehanna boosted their price target on Kyndryl from $27.00 to $33.00 and gave the company a "positive" rating in a research note on Thursday. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $28.50.

Kyndryl Stock Performance

Shares of KD stock traded down $0.93 during trading on Monday, reaching $26.35. 3,502,595 shares of the company's stock were exchanged, compared to its average volume of 1,669,858. Kyndryl has a twelve month low of $11.35 and a twelve month high of $27.50. The firm's fifty day moving average price is $21.55 and its 200-day moving average price is $20.26. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $6.06 billion, a PE ratio of -17.68, a PEG ratio of 7.68 and a beta of 1.57.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.11. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.01%. The firm had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.76 billion. During the same period in the prior year, the firm earned ($0.21) EPS. The business's revenue was down 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Kyndryl will post 0.71 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Kyndryl during the 1st quarter valued at about $26,000. ORG Partners LLC lifted its stake in Kyndryl by 622.4% in the first quarter. ORG Partners LLC now owns 1,416 shares of the company's stock valued at $31,000 after buying an additional 1,220 shares during the period. Fortis Group Advisors LLC boosted its holdings in shares of Kyndryl by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company's stock worth $33,000 after buying an additional 800 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Kyndryl during the 1st quarter worth approximately $33,000. Finally, Raleigh Capital Management Inc. increased its stake in shares of Kyndryl by 100.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company's stock valued at $46,000 after acquiring an additional 1,517 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

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.