Kingsoft Cloud (NASDAQ:KC) Price Target Raised to $3.80 at Jefferies Financial Group

Kingsoft Cloud (NASDAQ:KC) had its price objective hoisted by Jefferies Financial Group from $3.40 to $3.80 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on KC. CLSA raised shares of Kingsoft Cloud from an underperform rating to an outperform rating and set a $4.40 target price for the company in a research note on Thursday, March 21st. Citigroup raised shares of Kingsoft Cloud from a neutral rating to a buy rating and set a $5.00 target price for the company in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised shares of Kingsoft Cloud from a neutral rating to an overweight rating in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $4.55.

Kingsoft Cloud Price Performance

Kingsoft Cloud stock opened at $2.93 on Monday. The company has a quick ratio of 1.25, a current ratio of 0.89 and a debt-to-equity ratio of 0.01. Kingsoft Cloud has a 52-week low of $2.34 and a 52-week high of $10.13. The company has a fifty day simple moving average of $2.88 and a 200-day simple moving average of $3.87. The firm has a market capitalization of $743.31 million, a price-to-earnings ratio of -2.27 and a beta of 2.13.

Institutional Trading of Kingsoft Cloud

Hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in Kingsoft Cloud during the fourth quarter worth approximately $734,000. Northern Trust Corp raised its holdings in Kingsoft Cloud by 128.2% during the fourth quarter. Northern Trust Corp now owns 86,988 shares of the company’s stock worth $329,000 after purchasing an additional 48,871 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Kingsoft Cloud by 4,469.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 32,668 shares of the company’s stock worth $123,000 after purchasing an additional 31,953 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in Kingsoft Cloud by 3.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock worth $2,363,000 after purchasing an additional 20,084 shares in the last quarter. Finally, UBS Group AG raised its holdings in Kingsoft Cloud by 7.7% during the fourth quarter. UBS Group AG now owns 192,073 shares of the company’s stock worth $726,000 after purchasing an additional 13,770 shares in the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Company Profile

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.