Kyndryl Holdings, Inc. (NYSE:KD) Given Average Recommendation of “Reduce” by Analysts

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have earned an average rating of “Reduce” from the nine ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.6667.

A number of equities analysts have issued reports on the company. Wall Street Zen cut Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Scotiabank lowered their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. BMO Capital Markets started coverage on shares of Kyndryl in a research report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price target on the stock. Finally, Susquehanna lowered shares of Kyndryl from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $13.00 in a research note on Thursday, May 21st.

Institutional Investors Weigh In On Kyndryl

Several hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in shares of Kyndryl during the fourth quarter worth $29,000. Quarry LP acquired a new stake in Kyndryl during the 4th quarter worth $31,000. NBT Bank N A NY raised its stake in Kyndryl by 3,220.0% during the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock worth $35,000 after buying an additional 1,288 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Kyndryl by 4,475.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock worth $39,000 after acquiring an additional 1,432 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Kyndryl during the fourth quarter worth about $39,000. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Trading Up 6.2%

KD opened at $12.79 on Tuesday. The firm has a 50 day simple moving average of $11.84 and a 200 day simple moving average of $14.39. Kyndryl has a fifty-two week low of $10.10 and a fifty-two week high of $39.98. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 15.05 and a beta of 1.67. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.88.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the business posted $0.52 earnings per share. Kyndryl’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Kyndryl will post 1.54 earnings per share for the current year.

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.