Kyndryl Holdings, Inc. (NYSE:KD) Receives $28.50 Average Target Price from Brokerages

Kyndryl Holdings, Inc. (NYSE:KD) has been assigned an average rating of “Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $29.40.

KD has been the topic of a number of recent analyst reports. Scotiabank raised their price target on Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 13th. Susquehanna lifted their target price on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, May 9th. Finally, Oppenheimer began coverage on shares of Kyndryl in a report on Thursday, June 27th. They issued an “outperform” rating and a $33.00 target price for the company.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of Kyndryl stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $26.36, for a total value of $802,134.80. Following the completion of the sale, the senior vice president now directly owns 78,722 shares in the company, valued at $2,075,111.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kyndryl

A number of hedge funds have recently added to or reduced their stakes in KD. GAMMA Investing LLC grew its stake in Kyndryl by 65.8% in the second quarter. GAMMA Investing LLC now owns 2,490 shares of the company’s stock valued at $66,000 after acquiring an additional 988 shares during the period. Zimmer Partners LP grew its stake in Kyndryl by 1.3% in the first quarter. Zimmer Partners LP now owns 2,542,885 shares of the company’s stock valued at $55,333,000 after acquiring an additional 32,000 shares during the period. Castleark Management LLC grew its stake in Kyndryl by 21.7% in the first quarter. Castleark Management LLC now owns 312,130 shares of the company’s stock valued at $6,792,000 after acquiring an additional 55,750 shares during the period. Tidal Investments LLC grew its stake in Kyndryl by 240.7% in the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after acquiring an additional 39,408 shares during the period. Finally, Virtus Investment Advisers Inc. acquired a new stake in Kyndryl in the first quarter valued at approximately $385,000. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Stock Down 0.6 %

KD stock opened at $26.64 on Thursday. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of -17.88, a PEG ratio of 6.05 and a beta of 1.68. The business’s fifty day moving average price is $25.36 and its two-hundred day moving average price is $22.58. Kyndryl has a fifty-two week low of $11.92 and a fifty-two week high of $28.60.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. Kyndryl had a negative return on equity of 4.11% and a negative net margin of 2.12%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the business earned ($0.21) earnings per share. Kyndryl’s revenue was down 9.5% on a year-over-year basis. On average, equities analysts anticipate that Kyndryl will post 1 earnings per share for the current year.

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.