Kyndryl Holdings, Inc. (NYSE:KD) Given Consensus Rating of “Reduce” by Brokerages

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have been given an average recommendation of “Reduce” by the nine analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $22.1429.

A number of brokerages recently issued reports on KD. JPMorgan Chase & Co. downgraded shares of Kyndryl from an “overweight” rating to an “underweight” rating and set a $16.00 price target on the stock. in a report on Monday, February 9th. Weiss Ratings lowered Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 18th. Scotiabank lowered their price target on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Morgan Stanley lowered their price target on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. Finally, Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

Institutional Investors Weigh In On Kyndryl

A number of institutional investors and hedge funds have recently made changes to their positions in KD. AQR Capital Management LLC grew its holdings in shares of Kyndryl by 386.2% in the third quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock valued at $125,113,000 after purchasing an additional 3,326,025 shares in the last quarter. Cooper Creek Partners Management LLC grew its holdings in Kyndryl by 498.5% during the 1st quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock worth $51,115,000 after acquiring an additional 3,245,013 shares in the last quarter. Sound Shore Management Inc CT acquired a new position in Kyndryl during the 3rd quarter worth approximately $61,113,000. Vanguard Group Inc. grew its holdings in Kyndryl by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock worth $846,446,000 after acquiring an additional 1,619,048 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its holdings in shares of Kyndryl by 39.5% in the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock valued at $54,422,000 after buying an additional 1,173,761 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Trading Down 0.0%

Shares of Kyndryl stock opened at $11.62 on Monday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 13.66 and a beta of 1.66. Kyndryl has a 12-month low of $10.10 and a 12-month high of $44.20. The firm’s 50 day simple moving average is $12.78 and its two-hundred day simple moving average is $18.05. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77.

Kyndryl (NYSE:KD) last released its quarterly earnings data 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 business 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 firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. Analysts predict that Kyndryl will post 1.59 EPS for the current year.

Kyndryl Company Profile

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.