Kyndryl (NYSE:KD) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Kyndryl (NYSE:KD) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other equities analysts have also issued reports on the company. Susquehanna reduced their target price on Kyndryl from $35.00 to $16.00 and set a “positive” rating for the company in a research note on Friday, February 13th. Morgan Stanley reduced their target price on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. BMO Capital Markets assumed coverage on Kyndryl in a research note on Monday, April 20th. They issued a “market perform” rating and a $15.00 target price for the company. JPMorgan Chase & Co. lowered Kyndryl from an “overweight” rating to an “underweight” rating and set a $16.00 target price for the company. in a research note on Monday, February 9th. Finally, Zacks Research lowered Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Kyndryl has an average rating of “Reduce” and a consensus price target of $22.57.

Kyndryl Stock Performance

Shares of KD opened at $12.23 on Friday. Kyndryl has a 12 month low of $10.10 and a 12 month high of $44.20. The stock has a fifty day moving average price of $13.07 and a 200-day moving average price of $20.32. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.75. The firm has a market cap of $2.76 billion, a PE ratio of 14.39 and a beta of 1.72.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.29%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. Equities research analysts predict that Kyndryl will post 1.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kyndryl

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KD. Los Angeles Capital Management LLC acquired a new stake in Kyndryl during the 4th quarter worth about $29,000. Quarry LP acquired a new stake in Kyndryl during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC grew its position in Kyndryl by 192.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company’s stock worth $35,000 after purchasing an additional 770 shares during the period. NBT Bank N A NY grew its position 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 purchasing an additional 1,288 shares during the period. Finally, NFSG Corp grew its position in Kyndryl by 177.2% during the 1st quarter. NFSG Corp now owns 2,830 shares of the company’s stock worth $37,000 after purchasing an additional 1,809 shares during the period. 71.53% of the stock is owned by institutional investors and hedge funds.

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.