Kingsoft Cloud Holdings Limited (NASDAQ:KC) Receives $5.93 Consensus PT from Analysts

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have been given an average recommendation of “Buy” by the eight research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $5.93.

A number of brokerages have issued reports on KC. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.20 to $12.50 in a research note on Friday, December 6th.

Institutional Investors Weigh In On Kingsoft Cloud

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its stake in Kingsoft Cloud by 383.5% in the 3rd quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after buying an additional 255,795 shares in the last quarter. State Street Corp lifted its position in shares of Kingsoft Cloud by 0.5% in the third quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after acquiring an additional 3,104 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Kingsoft Cloud in the third quarter worth approximately $119,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Kingsoft Cloud during the third quarter worth approximately $326,000. Finally, GSA Capital Partners LLP raised its stake in Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock valued at $507,000 after purchasing an additional 81,751 shares during the last quarter. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Stock Performance

Shares of KC stock opened at $8.40 on Tuesday. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $9.70. The business’s fifty day simple moving average is $5.39 and its 200-day simple moving average is $3.59. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.13 billion, a PE ratio of -7.00 and a beta of 2.49.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.