Kyndryl (NYSE:KD) Price Target Raised to $47.00

Kyndryl (NYSE:KD) had its price target lifted by Oppenheimer from $43.00 to $47.00 in a research note released on Tuesday, MarketBeat Ratings reports. Oppenheimer currently has an outperform rating on the stock.

Separately, Susquehanna cut their target price on shares of Kyndryl from $46.00 to $43.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd.

Kyndryl Trading Down 1.2%

Shares of Kyndryl stock opened at $40.73 on Tuesday. The business has a fifty day simple moving average of $32.81 and a 200-day simple moving average of $34.35. Kyndryl has a fifty-two week low of $21.34 and a fifty-two week high of $43.61. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 74.05, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. Kyndryl had a net margin of 0.91% and a return on equity of 7.22%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the company earned ($0.01) EPS. Kyndryl’s revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Kyndryl will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyndryl

A number of institutional investors and hedge funds have recently modified their holdings of KD. Fifth Third Wealth Advisors LLC purchased a new position in Kyndryl in the 4th quarter worth about $255,000. Dakota Wealth Management purchased a new position in shares of Kyndryl in the fourth quarter worth approximately $1,221,000. Sky Investment Group LLC increased its position in shares of Kyndryl by 11.7% in the fourth quarter. Sky Investment Group LLC now owns 88,335 shares of the company’s stock worth $3,056,000 after acquiring an additional 9,240 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Kyndryl during the fourth quarter valued at approximately $5,309,000. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Kyndryl in the 4th quarter valued at approximately $16,856,000. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Company Profile

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.