Kyndryl (NYSE:KD) Upgraded at Zacks Research

Zacks Research upgraded shares of Kyndryl (NYSE:KD) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks reports.

Several other equities research analysts also recently weighed in on KD. Weiss Ratings restated a “sell (d)” rating on shares of Kyndryl in a report on Tuesday, November 3rd. BMO Capital Markets reiterated a “market perform” rating and issued a $16.00 price objective on shares of Kyndryl in a research note on Thursday, August 6th. Scotiabank boosted their price objective on Kyndryl from $15.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 5th. JPMorgan Chase & Co. upped their target price on shares of Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, August 10th. Finally, Susquehanna raised their target price on shares of Kyndryl from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.67.

Kyndryl Stock Down 1.5%

Shares of Kyndryl stock traded down $0.25 during trading hours on Thursday, reaching $16.81. 2,122,952 shares of the company were exchanged, compared to its average volume of 4,600,816. The firm has a market cap of $3.66 billion, a PE ratio of 48.02 and a beta of 1.62. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.95 and a current ratio of 0.95. Kyndryl has a 1 year low of $10.10 and a 1 year high of $27.83. The stock’s fifty day moving average is $13.41 and its 200 day moving average is $13.19.

Kyndryl (NYSE:KD) last released its earnings results on Wednesday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Kyndryl had a return on equity of 13.21% and a net margin of 0.52%. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period last year, the business posted $0.38 earnings per share. Kyndryl’s revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that Kyndryl will post 1.36 earnings per share for the current year.

Hedge Funds Weigh In On Kyndryl

Several large investors have recently bought and sold shares of KD. Amundi boosted its holdings in shares of Kyndryl by 145.5% in the 2nd quarter. Amundi now owns 708,203 shares of the company’s stock valued at $8,010,000 after buying an additional 419,708 shares in the last quarter. Hara Capital LLC purchased a new position in shares of Kyndryl in the 2nd quarter valued at $1,011,000. State Street Corp grew its position in shares of Kyndryl by 6.8% in the 2nd quarter. State Street Corp now owns 7,792,865 shares of the company’s stock valued at $88,137,000 after buying an additional 492,925 shares during the last quarter. Corient Private Wealth LP raised its stake in Kyndryl by 768.6% during the 2nd quarter. Corient Private Wealth LP now owns 96,657 shares of the company’s stock worth $1,093,000 after acquiring an additional 85,529 shares in the last quarter. Finally, AXQ Capital LP raised its stake in Kyndryl by 171.1% during the 2nd quarter. AXQ Capital LP now owns 163,122 shares of the company’s stock worth $1,845,000 after acquiring an additional 102,960 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Company Profile

Kyndryl Holdings, Inc. is an information technology services company that helps organizations design, build, manage and modernize the technology systems they rely on for daily operations. Its services include managing cloud and data-center environments, applications, networks, mainframe systems, cybersecurity and digital workplaces. The company was formed from IBM’s managed infrastructure services business and began operating as an independent public company in 2021. Kyndryl serves customers across a range of industries and geographies, helping them maintain and update complex technology environments.