Kyndryl Holdings, Inc. (NYSE:KD) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have received a consensus recommendation of “Reduce” from the nine research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.6667.

A number of research firms have commented on KD. Morgan Stanley reduced their price target on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Scotiabank cut their price objective on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Wall Street Zen lowered Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Finally, Susquehanna downgraded Kyndryl from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.00 in a report on Thursday, May 21st.

Kyndryl Price Performance

Kyndryl stock opened at $12.07 on Friday. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 14.21 and a beta of 1.67. Kyndryl has a 52-week low of $10.10 and a 52-week high of $43.00. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50 day moving average price is $11.93 and its two-hundred day moving average price is $15.63.

Kyndryl (NYSE:KD) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that Kyndryl will post 1.54 earnings per share for the current year.

Institutional Trading of Kyndryl

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in Kyndryl by 386.2% during the third quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock valued at $125,113,000 after purchasing an additional 3,326,025 shares during the last quarter. Cooper Creek Partners Management LLC increased its position in shares of Kyndryl by 498.5% during the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock valued at $51,115,000 after buying an additional 3,245,013 shares during the period. Sound Shore Management Inc. CT lifted its holdings in shares of Kyndryl by 39.5% in the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after buying an additional 1,173,761 shares in the last quarter. Norges Bank purchased a new stake in shares of Kyndryl in the fourth quarter worth about $19,539,000. Finally, UBS Group AG boosted its position in shares of Kyndryl by 50.0% in the third quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock valued at $60,911,000 after acquiring an additional 675,943 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

About Kyndryl

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.