Kyndryl (NYSE:KD) Price Target Raised to $14.00

Kyndryl (NYSE:KD) had its price objective lifted by JPMorgan Chase & Co. from $13.00 to $14.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an underweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. BMO Capital Markets reiterated a “market perform” rating and issued a $16.00 price objective on shares of Kyndryl in a report on Thursday, August 6th. Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings cut Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Finally, Scotiabank dropped their target price on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $16.50.

Kyndryl Price Performance

Shares of NYSE:KD opened at $13.05 on Monday. The company’s fifty day moving average price is $12.21 and its 200-day moving average price is $13.33. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 35.27 and a beta of 1.65. Kyndryl has a one year low of $10.10 and a one year high of $33.90. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.85 and a quick ratio of 0.85.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the firm posted $0.37 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Kyndryl will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new stake in shares of Kyndryl in the 4th quarter valued at about $29,000. Quarry LP purchased a new stake in Kyndryl during the 4th quarter valued at about $31,000. NBT Bank N A NY grew its position in Kyndryl by 3,220.0% during the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock worth $35,000 after acquiring an additional 1,288 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Kyndryl during the 4th quarter worth approximately $39,000. Finally, Geneos Wealth Management Inc. increased its stake in Kyndryl by 62.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company’s stock worth $62,000 after purchasing an additional 570 shares during the period. 71.53% of the stock is owned by 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.