Kyndryl (NYSE:KD) Upgraded to “Hold” at Zacks Research

Kyndryl (NYSE:KD) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

KD has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, August 10th. Susquehanna downgraded Kyndryl from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $16.00 target price on shares of Kyndryl in a research report on Thursday, August 6th. Finally, Weiss Ratings cut Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $16.50.

Kyndryl Price Performance

KD opened at $13.21 on Monday. Kyndryl has a 1 year low of $10.10 and a 1 year high of $32.30. The company’s 50 day simple moving average is $12.91 and its 200 day simple moving average is $12.61. The stock has a market capitalization of $2.88 billion, a PE ratio of 35.72 and a beta of 1.64. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the business posted $0.37 earnings per share. Kyndryl’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Kyndryl will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KD. Waterfront Wealth Inc. purchased a new stake in Kyndryl during the first quarter worth approximately $2,740,000. Hara Capital LLC purchased a new position in shares of Kyndryl in the 2nd quarter valued at $1,011,000. Hsbc Holdings PLC raised its stake in shares of Kyndryl by 421.2% in the 4th quarter. Hsbc Holdings PLC now owns 248,130 shares of the company’s stock valued at $6,558,000 after acquiring an additional 200,522 shares during the period. Corient Private Wealth LP lifted its holdings in shares of Kyndryl by 768.6% during the 2nd quarter. Corient Private Wealth LP now owns 96,657 shares of the company’s stock valued at $1,093,000 after acquiring an additional 85,529 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Kyndryl by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after acquiring an additional 63,846 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Company Profile

Kyndryl Holdings, Inc (NYSE: KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services support hybrid cloud environments, enterprise data centers, networks, applications and digital workplaces.

The company provides consulting and implementation services, cloud infrastructure management, cybersecurity, network and edge services, mainframe and data-center operations, and data and artificial intelligence solutions.