Kyndryl Holdings, Inc. (NYSE:KD – Get Free Report) has been given a consensus recommendation of “Reduce” by the nine brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.50.
A number of research analysts recently commented on KD shares. JPMorgan Chase & Co. upped their target price on Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, August 10th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $16.00 target price on shares of Kyndryl in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note 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.
Check Out Our Latest Stock Analysis on KD
Kyndryl Stock Performance
Kyndryl (NYSE:KD – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (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 analysts’ expectations 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 period in the prior year, the company earned $0.37 earnings per share. As a group, equities research analysts forecast that Kyndryl will post 1.36 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Kyndryl
Hedge funds and other institutional investors have recently modified their holdings of the stock. Benjamin Edwards Inc. grew its position in shares of Kyndryl by 6.9% during the 2nd quarter. Benjamin Edwards Inc. now owns 14,179 shares of the company’s stock valued at $160,000 after acquiring an additional 921 shares during the period. State of Michigan Retirement System increased its stake in shares of Kyndryl by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 55,034 shares of the company’s stock valued at $722,000 after purchasing an additional 1,000 shares in the last quarter. IFP Advisors Inc increased its stake 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Kyndryl by 24.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,469 shares of the company’s stock worth $72,000 after purchasing an additional 1,073 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Kyndryl by 104.1% in the 2nd 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. Institutional investors own 71.53% of the company’s stock.
Kyndryl Company Profile
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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