Kyndryl (NYSE:KD) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Kyndryl (NYSE:KD) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

KD has been the subject of several other reports. Susquehanna downgraded Kyndryl from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Morgan Stanley lowered their target price on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Scotiabank dropped their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a report on Friday, May 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Finally, BMO Capital Markets began coverage on shares of Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 price target on the stock. Seven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $16.67.

Kyndryl Stock Performance

NYSE:KD opened at $11.62 on Monday. The stock has a market cap of $2.56 billion, a P/E ratio of 13.68 and a beta of 1.67. The stock has a 50 day simple moving average of $11.80 and a 200 day simple moving average of $15.31. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. Kyndryl has a 1-year low of $10.10 and a 1-year high of $40.01.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. Research analysts anticipate that Kyndryl will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Kyndryl

Several large investors have recently bought and sold shares of KD. Vanguard Group Inc. grew its holdings in shares of Kyndryl by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock worth $752,479,000 after purchasing an additional 144,625 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Kyndryl by 53.9% in the fourth quarter. AQR Capital Management LLC now owns 6,443,037 shares of the company’s stock valued at $170,934,000 after buying an additional 2,255,860 shares during the period. Dimensional Fund Advisors LP raised its holdings in Kyndryl by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,684,443 shares of the company’s stock valued at $124,420,000 after buying an additional 76,614 shares during the last quarter. Geode Capital Management LLC raised its holdings in Kyndryl by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after buying an additional 63,846 shares during the last quarter. Finally, Sound Shore Management Inc. CT boosted its position in Kyndryl by 39.5% during the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after buying an additional 1,173,761 shares during the period. 71.53% of the stock is currently owned by institutional investors.

About Kyndryl

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.