Kingsoft Cloud Holdings Limited (NASDAQ:KC) Receives $4.55 Average Price Target from Brokerages

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $4.55.

A number of equities analysts have recently commented on KC shares. CLSA raised shares of Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price target on the stock in a report on Thursday, March 21st. Citigroup raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Thursday, March 21st. JPMorgan Chase & Co. raised shares of Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a report on Monday, March 11th. Finally, Jefferies Financial Group increased their price target on shares of Kingsoft Cloud from $3.40 to $3.80 and gave the stock a “buy” rating in a report on Monday, March 25th.

Kingsoft Cloud Price Performance

NASDAQ KC opened at $2.87 on Friday. Kingsoft Cloud has a 1 year low of $2.34 and a 1 year high of $7.42. The stock has a market capitalization of $728.09 million, a PE ratio of -2.22 and a beta of 2.13. The company’s 50 day simple moving average is $2.97 and its two-hundred day simple moving average is $3.59.

Kingsoft Cloud (NASDAQ:KC) last posted its earnings results on Wednesday, March 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Kingsoft Cloud had a negative return on equity of 27.14% and a negative net margin of 30.81%. The firm had revenue of $242.60 million during the quarter, compared to analysts’ expectations of $240.44 million. On average, research analysts anticipate that Kingsoft Cloud will post -0.45 EPS for the current year.

Hedge Funds Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rafferty Asset Management LLC purchased a new stake in Kingsoft Cloud during the 3rd quarter valued at $677,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Kingsoft Cloud during the 3rd quarter valued at $229,000. Jump Financial LLC purchased a new stake in Kingsoft Cloud during the 4th quarter valued at $136,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Kingsoft Cloud by 11.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 328,354 shares of the company’s stock valued at $1,241,000 after buying an additional 33,411 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in Kingsoft Cloud by 3.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 625,022 shares of the company’s stock valued at $2,363,000 after buying an additional 20,084 shares during the period. Institutional investors own 13.40% of the company’s stock.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, storage, and delivery solutions.