Kyndryl Holdings, Inc. (NYSE:KD) Receives $16.67 Consensus PT from Brokerages

Kyndryl Holdings, Inc. (NYSE:KD) has received a consensus recommendation of “Reduce” from the nine analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $16.6667.

Several research analysts recently weighed in on KD shares. Susquehanna cut 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 research report on Thursday, May 21st. Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Scotiabank lowered their price objective on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. BMO Capital Markets initiated coverage on shares of Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 price objective for the company. Finally, Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th.

Hedge Funds Weigh In On Kyndryl

A number of hedge funds and other institutional investors have recently modified their holdings of KD. Handelsbanken Fonder AB increased its position in shares of Kyndryl by 14.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 67,200 shares of the company’s stock valued at $760,000 after purchasing an additional 8,600 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in Kyndryl by 4.4% in the second quarter. 180 Wealth Advisors LLC now owns 30,086 shares of the company’s stock worth $340,000 after buying an additional 1,265 shares in the last quarter. Versant Capital Management Inc boosted its stake in Kyndryl by 104.1% in the second quarter. Versant Capital Management Inc now owns 2,418 shares of the company’s stock worth $27,000 after buying an additional 1,233 shares in the last quarter. Chelsea Counsel Co. grew its position in Kyndryl by 11,000.0% during the first quarter. Chelsea Counsel Co. now owns 22,200 shares of the company’s stock valued at $291,000 after acquiring an additional 22,000 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in shares of Kyndryl in the 1st quarter worth approximately $29,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Stock Up 3.0%

KD opened at $13.95 on Tuesday. The firm has a market capitalization of $3.08 billion, a P/E ratio of 16.41 and a beta of 1.64. Kyndryl has a one year low of $10.10 and a one year high of $37.01. The company has a fifty day moving average price of $11.99 and a 200-day moving average price of $13.91. 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 issued 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). The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. Equities research analysts expect that Kyndryl will post 1.54 earnings per share for the current fiscal 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.