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

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have been given a consensus recommendation of “Reduce” by the nine brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $22.1429.

Several equities analysts recently issued reports on the stock. Susquehanna lowered shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Wall Street Zen lowered shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered shares of Kyndryl from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. BMO Capital Markets assumed coverage on shares of Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings lowered shares of Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 18th.

Hedge Funds Weigh In On Kyndryl

Several institutional investors have recently bought and sold shares of the business. Chelsea Counsel Co. increased its holdings in Kyndryl by 11,000.0% during the first quarter. Chelsea Counsel Co. now owns 22,200 shares of the company’s stock valued at $291,000 after buying an additional 22,000 shares during the period. Western Wealth Management LLC purchased a new position in Kyndryl during the first quarter valued at approximately $29,000. Bank of America Corp DE grew its holdings in Kyndryl by 12.8% in the first quarter. Bank of America Corp DE now owns 1,792,792 shares of the company’s stock worth $23,521,000 after purchasing an additional 203,032 shares during the last quarter. Bull Harbor Capital LLC purchased a new position in Kyndryl in the first quarter worth $147,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Kyndryl by 24.4% in the first quarter. EverSource Wealth Advisors LLC now owns 5,469 shares of the company’s stock worth $72,000 after purchasing an additional 1,073 shares during the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Performance

Kyndryl stock opened at $11.69 on Monday. The company has a 50 day moving average price of $12.66 and a 200-day moving average price of $17.65. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. Kyndryl has a fifty-two week low of $10.10 and a fifty-two week high of $44.20. The company has a market capitalization of $2.57 billion, a PE ratio of 13.75 and a beta of 1.66.

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 the consensus estimate of $0.43 by ($0.25). Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the prior year, the firm posted $0.52 EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, equities analysts forecast that Kyndryl will post 1.59 earnings per share for the current 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.