Kyndryl Holdings, Inc. (NYSE:KD) Receives $38.00 Consensus Price Target from Brokerages

Kyndryl Holdings, Inc. (NYSE:KD) has been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $37.60.

A number of research analysts have recently commented on KD shares. JPMorgan Chase & Co. dropped their price objective on shares of Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Guggenheim cut their price target on shares of Kyndryl from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday. Susquehanna set a $35.00 price objective on shares of Kyndryl in a research note on Thursday, November 6th. Scotiabank initiated coverage on Kyndryl in a report on Tuesday, January 27th. They set an “outperform” rating for the company. Finally, Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th.

Kyndryl Stock Performance

Kyndryl stock opened at $23.53 on Tuesday. The stock has a fifty day moving average price of $25.83 and a 200 day moving average price of $28.55. Kyndryl has a 52 week low of $20.62 and a 52 week high of $44.20. The firm has a market capitalization of $5.38 billion, a P/E ratio of 13.92 and a beta of 1.84. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.24.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 6,641 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $26.69, for a total transaction of $177,248.29. Following the completion of the sale, the senior vice president owned 59,708 shares in the company, valued at approximately $1,593,606.52. The trade was a 10.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kyndryl

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in shares of Kyndryl by 386.2% in the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock valued at $125,113,000 after acquiring an additional 3,326,025 shares during the period. Sound Shore Management Inc CT acquired a new position in shares of Kyndryl during the third quarter worth about $61,113,000. Vanguard Group Inc. boosted its position in shares of Kyndryl by 6.1% in the third quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock worth $846,446,000 after buying an additional 1,619,048 shares during the period. UBS Group AG boosted 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 worth $60,911,000 after buying an additional 675,943 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Kyndryl by 1,167.1% in the third quarter. Federated Hermes Inc. now owns 691,496 shares of the company’s stock valued at $20,766,000 after buying an additional 636,925 shares in the last quarter. 71.53% of the stock is currently owned by hedge funds and other 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.