Kyndryl (NYSE:KD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Kyndryl (NYSE:KD) had its target price increased by stock analysts at JPMorgan Chase & Co. from $13.00 to $14.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 2.38% from the stock’s current price.

A number of other equities research analysts have also commented on KD. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Susquehanna cut shares of Kyndryl from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.00 in a research report on Thursday, May 21st. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 price objective on shares of Kyndryl in a research note on Thursday. Weiss Ratings lowered shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kyndryl has an average rating of “Reduce” and a consensus target price of $16.50.

Kyndryl Trading Down 2.5%

KD traded down $0.34 on Monday, hitting $13.68. 1,825,349 shares of the company were exchanged, compared to its average volume of 4,668,262. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a fifty day simple moving average of $12.16 and a two-hundred day simple moving average of $13.57. The stock has a market capitalization of $2.98 billion, a PE ratio of 36.93 and a beta of 1.64. Kyndryl has a 12 month low of $10.10 and a 12 month high of $33.90.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The business’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 earnings per share. Sell-side analysts expect that Kyndryl will post 1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in Kyndryl by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company’s stock worth $2,331,000 after purchasing an additional 421 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Kyndryl by 17.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company’s stock valued at $92,000 after buying an additional 448 shares in the last quarter. Geneos Wealth Management Inc. grew its position 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 worth $62,000 after buying an additional 570 shares during the period. Equitable Holdings Inc. grew its position in shares of Kyndryl by 2.8% in the 3rd quarter. Equitable Holdings Inc. now owns 25,560 shares of the company’s stock worth $768,000 after buying an additional 698 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of Kyndryl by 1.2% in the 4th quarter. Handelsbanken Fonder AB now owns 58,600 shares of the company’s stock worth $1,556,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

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.