Brokerages Set Kyndryl Holdings, Inc. (NYSE:KD) Price Target at $29.40

Kyndryl Holdings, Inc. (NYSE:KD) has earned an average rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $33.00.

A number of research firms have recently issued reports on KD. Susquehanna increased their price objective on shares of Kyndryl from $33.00 to $40.00 and gave the company a “positive” rating in a research note on Friday, November 22nd. Bank of America began coverage on shares of Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Oppenheimer increased their price objective on shares of Kyndryl from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

Kyndryl Stock Performance

Kyndryl stock opened at $34.32 on Friday. The firm has a market capitalization of $7.97 billion, a P/E ratio of -86.97, a price-to-earnings-growth ratio of 7.96 and a beta of 1.63. The company’s 50-day moving average is $25.20 and its 200 day moving average is $25.30. Kyndryl has a 1-year low of $17.64 and a 1-year high of $34.37. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Synovus Financial Corp grew its position in Kyndryl by 11.5% during the 3rd quarter. Synovus Financial Corp now owns 25,074 shares of the company’s stock worth $576,000 after purchasing an additional 2,581 shares during the last quarter. Tidal Investments LLC grew its position in Kyndryl by 45.9% during the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock worth $2,350,000 after purchasing an additional 32,173 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Kyndryl during the 3rd quarter worth approximately $171,000. Sanctuary Advisors LLC purchased a new stake in Kyndryl during the 3rd quarter worth approximately $237,000. Finally, Geode Capital Management LLC grew its position in Kyndryl by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock worth $88,908,000 after purchasing an additional 63,997 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.