Kyndryl (NYSE:KD) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Kyndryl (NYSE:KD) in a research report released on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $33.00 price objective on the stock.

A number of other research firms have also recently commented on KD. Susquehanna increased their price target on shares of Kyndryl from $27.00 to $33.00 and gave the company a positive rating in a report on Thursday, May 9th. Scotiabank increased their price target on shares of Kyndryl from $28.00 to $30.00 and gave the company a sector outperform rating in a report on Monday, May 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $29.40.

Kyndryl Price Performance

Shares of KD opened at $26.31 on Thursday. The stock has a market cap of $6.06 billion, a PE ratio of -17.66, a price-to-earnings-growth ratio of 6.05 and a beta of 1.70. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03. Kyndryl has a fifty-two week low of $11.92 and a fifty-two week high of $28.60. The firm’s 50-day simple moving average is $24.97 and its two-hundred day simple moving average is $22.44.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.11%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the company earned ($0.21) earnings per share. The business’s revenue was down 9.5% compared to the same quarter last year. Analysts anticipate that Kyndryl will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total value of $802,134.80. Following the transaction, the senior vice president now directly owns 78,722 shares in the company, valued at $2,075,111.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On Kyndryl

Several institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in shares of Kyndryl in the 1st quarter worth $26,000. ORG Partners LLC grew its stake in shares of Kyndryl by 622.4% in the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock worth $31,000 after buying an additional 1,220 shares in the last quarter. Fortis Group Advisors LLC grew its stake in shares of Kyndryl by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after buying an additional 800 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Kyndryl in the 1st quarter worth $33,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Kyndryl by 100.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company’s stock worth $46,000 after buying an additional 1,517 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

About Kyndryl

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.