Kingsoft Cloud (NASDAQ:KC – Free Report) had its price objective lifted by Jefferies Financial Group from $3.40 to $3.80 in a report released on Monday, Benzinga reports. They currently have a buy rating on the stock.
A number of other research analysts have also recently commented on KC. CLSA raised shares of Kingsoft Cloud from an underperform rating to an outperform rating and set a $4.40 target price for the company in a report on Thursday, March 21st. JPMorgan Chase & Co. upgraded shares of Kingsoft Cloud from a neutral rating to an overweight rating in a report on Monday, March 11th. Finally, Citigroup upgraded shares of Kingsoft Cloud from a neutral rating to a buy rating and set a $5.00 price objective for the company in a report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $4.55.
Check Out Our Latest Research Report on KC
Kingsoft Cloud Price Performance
Institutional Investors Weigh In On Kingsoft Cloud
A number of institutional investors have recently modified their holdings of KC. PNC Financial Services Group Inc. raised its stake in shares of Kingsoft Cloud by 220.6% in the first quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company’s stock worth $30,000 after buying an additional 3,400 shares during the period. Rhumbline Advisers raised its stake in Kingsoft Cloud by 98.6% during the 3rd quarter. Rhumbline Advisers now owns 5,600 shares of the company’s stock valued at $28,000 after purchasing an additional 2,780 shares during the period. Royal Bank of Canada raised its stake in Kingsoft Cloud by 101.6% during the 2nd quarter. Royal Bank of Canada now owns 7,938 shares of the company’s stock valued at $48,000 after purchasing an additional 4,000 shares during the period. Envestnet Asset Management Inc. bought a new stake in Kingsoft Cloud during the 3rd quarter valued at approximately $53,000. Finally, Engineers Gate Manager LP bought a new stake in Kingsoft Cloud during the 1st quarter valued at approximately $67,000. 13.40% of the stock is owned by hedge funds and other institutional investors.
About Kingsoft Cloud
Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, storage, and delivery solutions.
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