Kyndryl (NYSE:KD) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Kyndryl (NYSE:KD) in a research note published on Thursday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $33.00 price objective on the stock.

Several other equities analysts also recently issued reports on KD. Susquehanna upped their price objective on shares of Kyndryl from $27.00 to $33.00 and gave the company a positive rating in a research note on Thursday, May 9th. Scotiabank lifted their price objective on Kyndryl from $28.00 to $30.00 and gave the company a sector outperform rating in a research report on Monday, May 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Kyndryl presently has a consensus rating of Buy and an average target price of $29.40.

Kyndryl Price Performance

Shares of NYSE:KD opened at $26.04 on Thursday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03. The business’s fifty day moving average price is $24.84 and its two-hundred day moving average price is $22.33. The stock has a market cap of $6.00 billion, a PE ratio of -17.48, a price-to-earnings-growth ratio of 5.87 and a beta of 1.70. Kyndryl has a one year low of $11.92 and a one year high of $28.60.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.11. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.76 billion. Kyndryl had a negative return on equity of 4.11% and a negative net margin of 2.12%. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. On average, analysts forecast that Kyndryl will post 0.87 EPS for the current fiscal year.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $26.36, for a total transaction of $802,134.80. Following the completion of the sale, the senior vice president now owns 78,722 shares of the company’s stock, valued at $2,075,111.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KD. Acadian Asset Management LLC purchased a new position in shares of Kyndryl in the 1st quarter valued at $26,000. ORG Partners LLC raised its position in Kyndryl by 622.4% in the first quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock valued at $31,000 after purchasing an additional 1,220 shares during the period. Atlas Capital Advisors LLC acquired a new position in shares of Kyndryl during the first quarter worth about $33,000. Fortis Group Advisors LLC boosted its position in shares of Kyndryl by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after buying an additional 800 shares during the period. Finally, Pingora Partners LLC acquired a new stake in shares of Kyndryl in the fourth quarter valued at about $50,000. 71.53% of the stock is owned by institutional investors and hedge funds.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.