Kyndryl Holdings, Inc. (NYSE:KD) Receives $28.50 Consensus PT from Brokerages

Kyndryl Holdings, Inc. (NYSE:KD) has been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.40.

KD has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on Kyndryl in a research report on Thursday. They issued an “outperform” rating and a $33.00 target price for the company. Scotiabank upped their target price on Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a research report on Monday, May 13th. Finally, Susquehanna upped their target price on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, May 9th.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 30,430 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $26.36, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KD. Deutsche Bank AG raised its stake in Kyndryl by 1,266.6% during the third quarter. Deutsche Bank AG now owns 4,865,411 shares of the company’s stock valued at $73,468,000 after buying an additional 4,509,381 shares in the last quarter. Norges Bank acquired a new stake in Kyndryl during the fourth quarter valued at approximately $54,283,000. Hennessy Advisors Inc. acquired a new stake in Kyndryl during the fourth quarter valued at approximately $28,992,000. Cortland Associates Inc. MO acquired a new stake in Kyndryl during the first quarter valued at approximately $27,554,000. Finally, Vanguard Group Inc. raised its stake in Kyndryl by 3.4% during the third quarter. Vanguard Group Inc. now owns 26,038,728 shares of the company’s stock valued at $393,185,000 after buying an additional 844,205 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

Shares of NYSE KD opened at $26.31 on Thursday. The stock’s 50-day moving average is $24.97 and its two-hundred day moving average is $22.41. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. Kyndryl has a 1-year low of $11.92 and a 1-year high of $28.60. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -17.66, a price-to-earnings-growth ratio of 5.99 and a beta of 1.70.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.11. Kyndryl had a negative return on equity of 4.11% and a negative net margin of 2.12%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the business earned ($0.21) EPS. Kyndryl’s revenue was down 9.5% on a year-over-year basis. Analysts forecast that Kyndryl will post 0.87 EPS for the current fiscal year.

Kyndryl Company Profile

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.