Kyndryl Holdings, Inc. (NYSE:KD) Receives Average Recommendation of “Reduce” from Analysts

Kyndryl Holdings, Inc. (NYSE:KD) has been assigned an average rating of “Reduce” from the nine research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.50.

A number of equities research analysts recently commented on KD shares. JPMorgan Chase & Co. lifted their price objective on Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, August 10th. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Weiss Ratings cut Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Finally, BMO Capital Markets restated a “market perform” rating and set a $16.00 target price on shares of Kyndryl in a research report on Thursday, August 6th.

Institutional Trading of Kyndryl

Several hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont acquired a new position in Kyndryl in the second quarter valued at about $25,000. Versant Capital Management Inc raised its position in shares of Kyndryl by 104.1% during the second quarter. Versant Capital Management Inc now owns 2,418 shares of the company’s stock worth $27,000 after purchasing an additional 1,233 shares during the period. Western Wealth Management LLC bought a new position in shares of Kyndryl during the 1st quarter valued at about $29,000. NFSG Corp lifted its holdings in shares of Kyndryl by 177.2% during the 1st quarter. NFSG Corp now owns 2,830 shares of the company’s stock valued at $37,000 after purchasing an additional 1,809 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Kyndryl by 44.8% in the 2nd quarter. IFP Advisors Inc now owns 3,256 shares of the company’s stock valued at $37,000 after purchasing an additional 1,008 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Trading Down 0.1%

Shares of NYSE KD opened at $12.05 on Wednesday. Kyndryl has a fifty-two week low of $10.10 and a fifty-two week high of $32.08. The firm has a market capitalization of $2.63 billion, a P/E ratio of 32.57 and a beta of 1.64. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50 day simple moving average is $12.94 and its 200 day simple moving average is $12.62.

Kyndryl (NYSE:KD) last released its earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.64 billion. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 EPS. On average, analysts predict that Kyndryl will post 1.36 EPS for the current year.

About Kyndryl

Kyndryl Holdings, Inc (NYSE: KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services support hybrid cloud environments, enterprise data centers, networks, applications and digital workplaces.

The company provides consulting and implementation services, cloud infrastructure management, cybersecurity, network and edge services, mainframe and data-center operations, and data and artificial intelligence solutions.