Kyndryl Holdings, Inc. (NYSE:KD) Stock Has Average Target Price of $16.50

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have received an average recommendation of “Reduce” from the nine brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $16.50.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, August 10th. BMO Capital Markets reissued a “market perform” rating and issued a $16.00 price target on shares of Kyndryl in a report on Thursday, August 6th. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Finally, Weiss Ratings lowered shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Kyndryl by 6.8% during the 2nd quarter. State Street Corp now owns 7,792,865 shares of the company’s stock valued at $88,137,000 after acquiring an additional 492,925 shares during the period. Sound Shore Management Inc. CT raised its holdings in shares of Kyndryl by 39.5% in the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after purchasing an additional 1,173,761 shares during the period. Cooper Creek Partners Management LLC raised its holdings in shares of Kyndryl by 498.5% in the 1st quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock worth $51,115,000 after purchasing an additional 3,245,013 shares during the period. Bank of America Corp DE raised its holdings in shares of Kyndryl by 12.8% in the 1st quarter. Bank of America Corp DE now owns 1,792,792 shares of the company’s stock worth $23,521,000 after purchasing an additional 203,032 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Kyndryl by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,671,839 shares of the company’s stock worth $21,935,000 after purchasing an additional 74,823 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Stock Performance

Shares of KD opened at $13.18 on Friday. The stock has a 50 day moving average of $12.56 and a 200 day moving average of $12.50. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 17.60 and a beta of 1.66. Kyndryl has a 12 month low of $10.10 and a 12 month high of $29.45. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations 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 firm earned $0.37 earnings per share. As a group, sell-side analysts forecast that Kyndryl will post 1.36 earnings per share for the current year.

About Kyndryl

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 include managed infrastructure, cloud solutions, application management, network and edge services, cybersecurity, data and artificial intelligence, and technology consulting.

The company helps clients operate and transform complex IT environments, including hybrid cloud and traditional on-premises systems.