Shares of Kyndryl Holdings, Inc. (NYSE:KD – Get Free Report) have been assigned an average recommendation of “Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $29.40.
A number of equities analysts have recently issued reports on the stock. Oppenheimer initiated coverage on shares of Kyndryl in a research note on Thursday, June 27th. They set an “outperform” rating and a $33.00 price objective on the stock. Scotiabank lifted their price objective 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. Finally, Susquehanna lifted their price objective on shares of Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, May 9th.
Check Out Our Latest Report on Kyndryl
Kyndryl Price Performance
Kyndryl (NYSE:KD – Get Free Report) last issued its 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. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.76 billion. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.11%. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) EPS. As a group, equities analysts anticipate that Kyndryl will post 1 EPS for the current year.
Insiders Place Their Bets
In other news, SVP Vineet Khurana sold 30,430 shares of Kyndryl stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.04% of the company’s stock.
Institutional Investors Weigh In On Kyndryl
Several institutional investors and hedge funds have recently made changes to their positions in KD. Norges Bank acquired a new stake in shares of Kyndryl during the fourth quarter worth $54,283,000. Hennessy Advisors Inc. acquired a new position in Kyndryl during the fourth quarter valued at $28,992,000. Cortland Associates Inc. MO acquired a new position in Kyndryl during the first quarter valued at $27,554,000. Vanguard Group Inc. lifted its position in Kyndryl by 3.4% during the third quarter. Vanguard Group Inc. now owns 26,038,728 shares of the company’s stock valued at $393,185,000 after purchasing an additional 844,205 shares during the period. Finally, Greenlight Capital Inc. lifted its position in Kyndryl by 13.7% during the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock valued at $132,079,000 after purchasing an additional 767,943 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
- Five stocks we like better than Kyndryl
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- Following Congress Stock Trades
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- How to Invest in Biotech Stocks
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Receive News & Ratings for Kyndryl Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kyndryl and related companies with MarketBeat.com's FREE daily email newsletter.