Kyndryl (NYSE:KD) PT Raised to $33.00

Kyndryl (NYSE:KD) had its price objective hoisted by research analysts at Susquehanna from $27.00 to $33.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 24.29% from the company’s previous close.

Kyndryl Price Performance

Shares of KD opened at $26.55 on Thursday. The company has a 50 day moving average of $21.29 and a 200-day moving average of $19.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $6.11 billion, a P/E ratio of -5.86, a P/E/G ratio of 5.79 and a beta of 1.57. Kyndryl has a twelve month low of $11.35 and a twelve month high of $26.70.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.11. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the company earned ($0.21) EPS. Kyndryl’s revenue for the quarter was down 9.5% compared to the same quarter last year. As a group, equities research analysts forecast that Kyndryl will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyndryl

Several hedge funds have recently added to or reduced their stakes in KD. Entropy Technologies LP acquired a new stake in shares of Kyndryl during the 1st quarter worth $345,000. Bleakley Financial Group LLC grew its stake in Kyndryl by 11.8% during the first quarter. Bleakley Financial Group LLC now owns 15,307 shares of the company’s stock worth $333,000 after buying an additional 1,621 shares in the last quarter. Inspire Investing LLC raised its position in shares of Kyndryl by 17.6% in the 1st quarter. Inspire Investing LLC now owns 74,880 shares of the company’s stock valued at $1,629,000 after buying an additional 11,232 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Kyndryl by 23.4% during the 1st quarter. Sei Investments Co. now owns 260,771 shares of the company’s stock worth $5,674,000 after acquiring an additional 49,520 shares during the period. Finally, Swiss National Bank boosted its position in shares of Kyndryl by 0.5% during the 1st quarter. Swiss National Bank now owns 453,100 shares of the company’s stock worth $9,859,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.