Kyndryl (NYSE:KD) Shares Down 5.1% – Should You Sell?

Shares of Kyndryl Holdings, Inc. (NYSE:KD – Get Free Report) traded down 5.1% during trading on Tuesday. The company traded as low as $12.81 and last traded at $12.8810. Approximately 752,298 shares were traded during trading, a decline of 83% from the average session volume of 4,445,825 shares. The stock had previously closed at $13.57.

Analysts Set New Price Targets

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

Get Our Latest Stock Analysis on Kyndryl

Kyndryl Trading Down 2.4%

The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 35.79 and a beta of 1.66. The business has a fifty day moving average of $12.81 and a 200-day moving average of $13.58. 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 – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 EPS. On average, equities analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kyndryl

Large investors have recently made changes to their positions in the company. Cooper Creek Partners Management LLC raised its stake 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 valued at $51,115,000 after purchasing an additional 3,245,013 shares during the last quarter. Sound Shore Management Inc. CT raised its position 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 worth $54,422,000 after purchasing an additional 1,173,761 shares in the last quarter. Jupiter Topco LLC acquired a new stake in Kyndryl in the 2nd quarter valued at $6,672,000. State Street Corp boosted its stake in shares of Kyndryl by 6.8% in the 2nd quarter. State Street Corp now owns 7,792,865 shares of the company’s stock valued at $88,137,000 after purchasing an additional 492,925 shares in the last quarter. Finally, Amundi grew its stake in Kyndryl by 145.5% during the second quarter. Amundi now owns 708,203 shares of the company’s stock worth $8,010,000 after buying an additional 419,708 shares during the last quarter. Institutional investors 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 help customers operate and transform complex IT environments, including cloud, data centers, networks, applications and digital workplaces.

The company provides consulting and implementation services as well as ongoing managed services. Its capabilities include cloud solutions, network and edge services, cybersecurity, data and artificial intelligence, application management, enterprise computing and technology modernization.

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