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

Kyndryl Holdings, Inc. (NYSE:KD) has received a consensus recommendation of “Reduce” from the nine analysts that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $22.1429.

Several research analysts recently commented on the company. Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $13.00 in a research note on Thursday, May 21st. BMO Capital Markets assumed coverage on Kyndryl in a research report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price target on the stock. Wall Street Zen cut Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. Finally, Scotiabank cut their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th.

Kyndryl Stock Performance

NYSE:KD opened at $12.28 on Friday. The company has a fifty day simple moving average of $12.08 and a two-hundred day simple moving average of $16.14. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 14.44 and a beta of 1.67. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77. Kyndryl has a 52 week low of $10.10 and a 52 week high of $44.20.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KD. Los Angeles Capital Management LLC purchased a new stake in shares of Kyndryl in the 4th quarter valued at approximately $29,000. Quarry LP purchased a new stake in shares of Kyndryl during the 4th quarter worth $31,000. NBT Bank N A NY lifted its position in shares of Kyndryl by 3,220.0% during the 4th 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 last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Kyndryl by 4,475.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock worth $39,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Kyndryl during the fourth quarter worth $39,000. Institutional investors and hedge funds 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.