Kyndryl Holdings, Inc. (NYSE:KD) Given Average Recommendation of “Reduce” by Analysts

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have earned an average recommendation of “Reduce” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $22.5714.

Several brokerages have issued reports on KD. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Scotiabank decreased their price objective on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Morgan Stanley decreased their price objective on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Guggenheim downgraded shares of Kyndryl from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 10th. Finally, Oppenheimer reissued a “market perform” rating on shares of Kyndryl in a research note on Monday, February 9th.

Institutional Trading of Kyndryl

Several institutional investors have recently added to or reduced their stakes in KD. Royal Bank of Canada lifted its stake in Kyndryl by 50.2% in the first quarter. Royal Bank of Canada now owns 148,178 shares of the company’s stock worth $4,653,000 after purchasing an additional 49,504 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in Kyndryl by 15.8% in the first quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company’s stock worth $252,000 after purchasing an additional 1,093 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Kyndryl by 1.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company’s stock valued at $23,018,000 after acquiring an additional 11,177 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Kyndryl by 116.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock valued at $110,000 after acquiring an additional 1,410 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Kyndryl by 29.8% during the second quarter. First Trust Advisors LP now owns 408,123 shares of the company’s stock valued at $17,125,000 after acquiring an additional 93,726 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Down 3.7%

KD opened at $11.05 on Thursday. The firm has a market cap of $2.49 billion, a P/E ratio of 13.00 and a beta of 1.72. Kyndryl has a 12 month low of $10.10 and a 12 month high of $44.20. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.75. The stock has a 50-day moving average of $13.01 and a 200 day moving average of $19.85.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). The company had revenue of $3.77 billion during 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 company’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. As a group, research analysts forecast that Kyndryl will post 1.81 EPS for the current year.

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.