Kyndryl Holdings, Inc. (NYSE:KD) Given Consensus Rating of “Buy” by Brokerages

Shares of Kyndryl Holdings, Inc. (NYSE:KD) 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.

Kyndryl Price Performance

Shares of KD stock opened at $26.95 on Monday. 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 company has a market capitalization of $6.21 billion, a P/E ratio of -18.09, a P/E/G ratio of 5.39 and a beta of 1.67. The company’s 50-day simple moving average is $26.49 and its two-hundred day simple moving average is $23.29. Kyndryl has a one year low of $11.92 and a one year high of $28.60.

Kyndryl (NYSE:KD) 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.