Kyndryl (NYSE:KD) Trading 4.9% Higher – Time to Buy?

Kyndryl Holdings, Inc. (NYSE:KD)’s share price traded up 4.9% on Monday . The stock traded as high as $13.31 and last traded at $13.1650. Approximately 660,094 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 4,617,190 shares. The stock had previously closed at $12.55.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KD shares. Wall Street Zen lowered shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Scotiabank reduced their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. JPMorgan Chase & Co. upped their target price on shares of Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, August 10th. Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $16.00 price target on shares of Kyndryl in a research note on Thursday, August 6th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Kyndryl presently has a consensus rating of “Reduce” and an average target price of $16.50.

Kyndryl Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. The company has a 50 day simple moving average of $12.42 and a 200 day simple moving average of $12.65. The stock has a market cap of $2.83 billion, a P/E ratio of 35.18 and a beta of 1.65.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period last year, the business earned $0.37 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts forecast that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont acquired a new stake in Kyndryl in the 2nd quarter valued at $25,000. Versant Capital Management Inc boosted its stake in shares of Kyndryl by 104.1% during the 2nd 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 during the last quarter. Western Wealth Management LLC acquired a new position in shares of Kyndryl during the 1st quarter worth about $29,000. Los Angeles Capital Management LLC bought a new position in shares of Kyndryl in the 4th quarter valued at about $29,000. Finally, Quarry LP bought a new position in shares of Kyndryl in the 4th quarter valued at about $31,000. Institutional investors own 71.53% of the company’s stock.

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.