Kyndryl Holdings, Inc. (NYSE:KD) Receives Consensus Recommendation of “Reduce” from Analysts

Kyndryl Holdings, Inc. (NYSE:KD) has received an average rating of “Reduce” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $16.6667.

Several brokerages have weighed in on KD. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Kyndryl in a report on Monday, June 15th. Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Scotiabank dropped their price objective on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Finally, Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Kyndryl by 386.2% in the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after purchasing an additional 3,326,025 shares during the last quarter. Cooper Creek Partners Management LLC boosted its position in Kyndryl by 498.5% during the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock worth $51,115,000 after purchasing an additional 3,245,013 shares during the period. Sound Shore Management Inc. CT grew its holdings in Kyndryl by 39.5% during the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock valued at $54,422,000 after purchasing an additional 1,173,761 shares during the last quarter. Norges Bank acquired a new position in Kyndryl during the fourth quarter valued at approximately $19,539,000. Finally, UBS Group AG raised its position in shares of Kyndryl by 50.0% in the third quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock valued at $60,911,000 after purchasing an additional 675,943 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Trading Up 0.7%

Kyndryl stock opened at $13.60 on Tuesday. The company’s fifty day simple moving average is $11.96 and its 200-day simple moving average is $14.10. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77. Kyndryl has a 12 month low of $10.10 and a 12 month high of $38.54. The stock has a market cap of $3.00 billion, a P/E ratio of 16.00 and a beta of 1.67.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The company had revenue of $3.77 billion during 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 company’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. As a group, sell-side analysts forecast that Kyndryl will post 1.54 EPS for the current fiscal year.

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.