Kyndryl Holdings, Inc. (NYSE:KD) Stock Has Average Target Price of $16.50

Kyndryl Holdings, Inc. (NYSE:KD) has received an average recommendation of “Reduce” from the nine ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $17.67.

A number of research firms have recently weighed in on KD. JPMorgan Chase & Co. lifted their price target on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Kyndryl in a research report on Tuesday, November 3rd. BMO Capital Markets reissued a “market perform” rating and set a $16.00 price target on shares of Kyndryl in a research report on Thursday, August 6th. Susquehanna raised their price objective on Kyndryl from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Finally, Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th.

Kyndryl Stock Performance

Shares of NYSE KD opened at $17.18 on Thursday. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s fifty day moving average price is $13.26 and its two-hundred day moving average price is $13.26. Kyndryl has a one year low of $10.10 and a one year high of $27.83. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 49.09 and a beta of 1.62.

Kyndryl (NYSE:KD) last posted its earnings results on Wednesday, November 4th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Kyndryl had a return on equity of 13.21% and a net margin of 0.52%. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts forecast that Kyndryl will post 1.36 EPS for the current year.

Institutional Investors Weigh In On Kyndryl

Several institutional investors and hedge funds have recently bought and sold shares of KD. Trust Co. of Vermont acquired a new position in shares of Kyndryl in the 2nd quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Kyndryl during the 3rd quarter worth approximately $26,000. Versant Capital Management Inc lifted its holdings 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 acquiring an additional 1,233 shares during the period. Western Wealth Management LLC bought a new stake in shares of Kyndryl during the 1st quarter worth approximately $29,000. Finally, NFSG Corp boosted its position in shares of Kyndryl by 177.2% during the 1st quarter. NFSG Corp now owns 2,830 shares of the company’s stock worth $37,000 after acquiring an additional 1,809 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

About Kyndryl

Kyndryl Holdings, Inc. is an information technology services company that helps organizations design, build, manage and modernize the technology systems they rely on for daily operations. Its services include managing cloud and data-center environments, applications, networks, mainframe systems, cybersecurity and digital workplaces. The company was formed from IBM’s managed infrastructure services business and began operating as an independent public company in 2021. Kyndryl serves customers across a range of industries and geographies, helping them maintain and update complex technology environments.