Brokerages Set Kyndryl Holdings, Inc. (NYSE:KD) PT at $38.00

Kyndryl Holdings, Inc. (NYSE:KD) has earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $38.00.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Zacks Research raised shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Susquehanna set a $35.00 price objective on shares of Kyndryl in a report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Kyndryl in a report on Wednesday, October 8th. Finally, Morgan Stanley started coverage on Kyndryl in a research report on Friday, September 26th. They issued an “equal weight” rating and a $30.00 price target for the company.

Kyndryl Price Performance

Shares of Kyndryl stock opened at $26.72 on Monday. The stock has a market capitalization of $6.11 billion, a P/E ratio of 15.81 and a beta of 1.85. The business has a 50 day simple moving average of $26.72 and a two-hundred day simple moving average of $32.43. Kyndryl has a 12 month low of $23.28 and a 12 month high of $44.20. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.02 and a quick ratio of 1.02.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the previous year, the business earned $0.01 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts predict that Kyndryl will post 0.73 EPS for the current fiscal year.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 6,641 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $26.69, for a total value of $177,248.29. Following the completion of the sale, the senior vice president directly owned 59,708 shares in the company, valued at $1,593,606.52. This represents a 10.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KD. AQR Capital Management LLC increased its position in Kyndryl by 386.2% during the third quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after purchasing an additional 3,326,025 shares during the last quarter. Sound Shore Management Inc CT acquired a new position in Kyndryl in the 3rd quarter valued at about $61,113,000. Vanguard Group Inc. grew its stake in shares of Kyndryl by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock valued at $846,446,000 after buying an additional 1,619,048 shares during the period. Nuveen LLC acquired a new stake in shares of Kyndryl during the 1st quarter worth approximately $30,466,000. Finally, GMT Capital Corp increased its holdings in shares of Kyndryl by 24.2% during the 1st quarter. GMT Capital Corp now owns 3,691,860 shares of the company’s stock worth $115,924,000 after buying an additional 718,300 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Company Profile

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.