Kyndryl (NYSE:KD) Upgraded to Strong-Buy at Guggenheim

Kyndryl (NYSE:KD) was upgraded by equities researchers at Guggenheim to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on KD. Morgan Stanley initiated coverage on Kyndryl in a research note on Friday, September 26th. They issued an “equal weight” rating and a $30.00 price objective on the stock. Susquehanna set a $35.00 price objective on shares of Kyndryl in a research report on Thursday, November 6th. JPMorgan Chase & Co. dropped their price objective on Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.00.

Kyndryl Stock Up 1.6%

Kyndryl stock opened at $25.51 on Wednesday. Kyndryl has a fifty-two week low of $23.28 and a fifty-two week high of $44.20. The firm’s 50-day simple moving average is $28.00 and its 200 day simple moving average is $33.83. The stock has a market cap of $5.83 billion, a PE ratio of 15.09 and a beta of 1.84. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.02 and a current ratio of 1.02.

Kyndryl (NYSE:KD) last released its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the company posted $0.01 earnings per share. Kyndryl’s quarterly revenue was down 1.4% on a year-over-year basis. Kyndryl has set its FY 2026 guidance at EPS. Research analysts predict that Kyndryl will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Kyndryl

Hedge funds have recently made changes to their positions in the business. Penn Capital Management Company LLC increased its position in Kyndryl by 1.2% during the 3rd quarter. Penn Capital Management Company LLC now owns 375,360 shares of the company’s stock valued at $11,306,000 after purchasing an additional 4,518 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Kyndryl in the third quarter worth about $666,000. Danske Bank A S bought a new position in Kyndryl during the 3rd quarter valued at approximately $953,000. Advisory Services Network LLC bought a new position in shares of Kyndryl during the third quarter valued at $78,000. Finally, NewEdge Advisors LLC increased its stake in Kyndryl by 56.1% during the 3rd quarter. NewEdge Advisors LLC now owns 3,596 shares of the company’s stock valued at $108,000 after purchasing an additional 1,293 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.