Wall Street Zen Downgrades Kyndryl (NYSE:KD) to Hold

Kyndryl (NYSE:KD) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also recently issued reports on KD. Scotiabank decreased their price objective on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday. Morgan Stanley decreased their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. Oppenheimer restated a “market perform” rating on shares of Kyndryl in a report on Monday, February 9th. BMO Capital Markets started coverage on Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 price target on the stock. Finally, Guggenheim lowered Kyndryl from a “buy” rating to a “neutral” rating in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Kyndryl currently has an average rating of “Reduce” and a consensus price target of $22.57.

Kyndryl Stock Down 0.2%

Shares of KD opened at $12.23 on Friday. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 14.39 and a beta of 1.72. Kyndryl has a 1 year low of $10.10 and a 1 year high of $44.20. The business’s 50 day simple moving average is $13.07 and its 200-day simple moving average is $20.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.86 and a quick ratio of 0.86.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.25). The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Kyndryl had a return on equity of 20.29% and a net margin of 1.31%.The firm’s revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. As a group, equities analysts expect that Kyndryl will post 1.81 earnings per share for the current fiscal year.

Institutional Trading of Kyndryl

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in Kyndryl during the 4th quarter valued at $29,000. Quarry LP purchased a new stake in Kyndryl in the fourth quarter worth $31,000. Smartleaf Asset Management LLC increased its stake in Kyndryl by 192.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company’s stock worth $35,000 after purchasing an additional 770 shares during the period. NBT Bank N A NY increased its stake in Kyndryl by 3,220.0% in the fourth quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock worth $35,000 after purchasing an additional 1,288 shares during the period. Finally, NFSG Corp increased its stake in Kyndryl by 177.2% in the first quarter. NFSG Corp now owns 2,830 shares of the company’s stock worth $37,000 after purchasing an additional 1,809 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Company Profile

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.