Oppenheimer Raises Kyndryl (NYSE:KD) Price Target to $37.00

Kyndryl (NYSE:KD) had its price target increased by equities research analysts at Oppenheimer from $33.00 to $37.00 in a report released on Friday,Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 13.92% from the company’s previous close.

Separately, Bank of America started coverage on shares of Kyndryl in a research report on Friday. They set a “buy” rating and a $40.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $33.00.

Kyndryl Price Performance

NYSE:KD opened at $32.48 on Friday. The stock’s 50-day simple moving average is $24.59 and its 200 day simple moving average is $25.09. Kyndryl has a 52-week low of $17.64 and a 52-week high of $33.26. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $7.54 billion, a P/E ratio of -83.28, a P/E/G ratio of 6.76 and a beta of 1.63.

Institutional Investors Weigh In On Kyndryl

Several institutional investors and hedge funds have recently added to or reduced their stakes in KD. FMR LLC boosted its stake in shares of Kyndryl by 35.1% in the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after purchasing an additional 1,569,260 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after purchasing an additional 1,254,208 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in Kyndryl in the third quarter valued at approximately $20,213,000. Great Lakes Advisors LLC bought a new stake in shares of Kyndryl during the second quarter worth $19,996,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Kyndryl by 32.3% during the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock worth $72,768,000 after buying an additional 675,800 shares in the last quarter. 71.53% of the stock is currently owned by 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.