Kyndryl (NYSE:KD) Stock Rating Upgraded by Zacks Research

Kyndryl (NYSE:KD) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts have also weighed in on KD. Scotiabank decreased their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price target for the company from $16.00 to $13.00 in a report on Thursday, May 21st. BMO Capital Markets began coverage on shares of Kyndryl in a research report on Monday, April 20th. They set a “market perform” rating and a $15.00 price target for the company. Morgan Stanley decreased their price target on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. Finally, Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Kyndryl has an average rating of “Reduce” and a consensus target price of $16.67.

Kyndryl Trading Down 5.6%

Shares of KD opened at $11.62 on Monday. The business’s 50-day moving average price is $11.80 and its 200-day moving average price is $15.31. Kyndryl has a twelve month low of $10.10 and a twelve month high of $40.01. The stock has a market cap of $2.56 billion, a PE ratio of 13.68 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 (NYSE:KD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts forecast that Kyndryl will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Kyndryl

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in Kyndryl by 386.2% in the third quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after buying an additional 3,326,025 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake 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 worth $51,115,000 after acquiring an additional 3,245,013 shares in the last quarter. Sound Shore Management Inc. CT raised its stake in shares of Kyndryl by 39.5% during the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after acquiring an additional 1,173,761 shares in the last quarter. Norges Bank bought a new stake in shares of Kyndryl in the 4th quarter worth approximately $19,539,000. Finally, UBS Group AG lifted its holdings in shares of Kyndryl by 50.0% in the 3rd quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock worth $60,911,000 after acquiring an additional 675,943 shares during the last quarter. 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.