Kyndryl (NYSE:KD) Stock Rating Upgraded by Zacks Research

Kyndryl (NYSE:KD) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also commented on KD. BMO Capital Markets started coverage on Kyndryl in a research report on Monday, April 20th. They issued a “market perform” rating and a $15.00 target price for the company. Scotiabank dropped their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Wall Street Zen cut Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $16.67.

Kyndryl Stock Performance

Shares of KD stock opened at $11.62 on Monday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 13.68 and a beta of 1.67. Kyndryl has a one year low of $10.10 and a one year high of $40.01. The company’s 50-day simple moving average is $11.80 and its 200-day simple moving average is $15.31. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current 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 for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that Kyndryl will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KD. Los Angeles Capital Management LLC acquired a new stake in shares of Kyndryl in the fourth quarter valued at approximately $29,000. Quarry LP bought a new stake in shares of Kyndryl during the fourth quarter valued at approximately $31,000. NBT Bank N A NY boosted its position in shares of Kyndryl by 3,220.0% during the fourth 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. boosted its position in shares of 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 buying an additional 1,432 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in Kyndryl in the 4th quarter worth approximately $39,000. 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.