Kyndryl (NYSE:KD) Shares Down 5% – Should You Sell?

Kyndryl Holdings, Inc. (NYSE:KD – Get Free Report) shares were down 5% during mid-day trading on Friday. The stock traded as low as $11.49 and last traded at $11.5150. Approximately 1,000,026 shares traded hands during trading, a decline of 78% from the average daily volume of 4,508,293 shares. The stock had previously closed at $12.12.

Analysts Set New Price Targets

A number of research firms recently commented on KD. BMO Capital Markets reaffirmed a “market perform” rating and issued a $16.00 price target on shares of Kyndryl in a research note on Thursday, August 6th. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Weiss Ratings cut shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday, August 10th. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $16.50.

Read Our Latest Analysis on Kyndryl

Kyndryl Stock Down 4.7%

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of $12.91 and a two-hundred day moving average of $12.54. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 31.26 and a beta of 1.66.

Kyndryl (NYSE:KD – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 EPS for the current fiscal year.

Institutional Trading of Kyndryl

A number of hedge funds have recently added to or reduced their stakes in KD. Cooper Creek Partners Management LLC grew its stake in shares of Kyndryl by 498.5% in the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock worth $51,115,000 after purchasing an additional 3,245,013 shares during the last quarter. Sound Shore Management Inc. CT increased its holdings in Kyndryl by 39.5% in the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock valued at $54,422,000 after purchasing an additional 1,173,761 shares during the period. Norges Bank bought a new position in Kyndryl during the 4th quarter worth $19,539,000. Jupiter Topco LLC acquired a new position in Kyndryl during the 2nd quarter worth about $6,672,000. Finally, State Street Corp lifted its holdings in Kyndryl by 6.8% during the 2nd quarter. State Street Corp now owns 7,792,865 shares of the company’s stock worth $88,137,000 after buying an additional 492,925 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Company Profile

(Get Free Report)

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 include managed infrastructure, cloud solutions, application management, network and edge services, cybersecurity, data and artificial intelligence, and technology consulting.

The company helps clients operate and transform complex IT environments, including hybrid cloud and traditional on-premises systems.

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