Analysts Set Kyndryl Holdings, Inc. (NYSE:KD) PT at $16.50

Kyndryl Holdings, Inc. (NYSE:KD) has been given an average rating of “Reduce” by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $16.50.

KD has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, August 10th. BMO Capital Markets restated a “market perform” rating and set a $16.00 target price on shares of Kyndryl in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Susquehanna downgraded Kyndryl from a “positive” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Finally, Weiss Ratings lowered Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th.

Kyndryl Price Performance

NYSE KD opened at $12.71 on Friday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 34.35 and a beta of 1.65. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day moving average price is $12.44 and its 200 day moving average price is $12.59. Kyndryl has a 1 year low of $10.10 and a 1 year high of $33.90.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, equities research analysts forecast that Kyndryl will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont purchased a new stake in Kyndryl in the 2nd quarter worth approximately $25,000. Versant Capital Management Inc increased its holdings in shares of Kyndryl by 104.1% during the 2nd quarter. Versant Capital Management Inc now owns 2,418 shares of the company’s stock valued at $27,000 after purchasing an additional 1,233 shares in the last quarter. Western Wealth Management LLC acquired a new position in shares of Kyndryl in the 1st quarter valued at $29,000. Los Angeles Capital Management LLC acquired a new position in shares of Kyndryl in the 4th quarter valued at $29,000. Finally, Quarry LP purchased a new stake in Kyndryl during the fourth quarter worth $31,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

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.