Oppenheimer Increases Kyndryl (NYSE:KD) Price Target to $43.00

Kyndryl (NYSE:KD) had its price objective increased by equities research analysts at Oppenheimer from $37.00 to $43.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential downside of 0.91% from the stock’s current price.

A number of other research firms also recently weighed in on KD. Susquehanna boosted their target price on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, November 22nd. Bank of America started coverage on shares of Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price target for the company.

Kyndryl Trading Up 8.7 %

NYSE:KD opened at $43.40 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. Kyndryl has a 12 month low of $19.24 and a 12 month high of $43.61. The company has a market cap of $10.08 billion, a PE ratio of -111.27, a price-to-earnings-growth ratio of 11.00 and a beta of 1.86. The company has a 50 day simple moving average of $36.57 and a two-hundred day simple moving average of $28.93.

Hedge Funds Weigh In On Kyndryl

Several hedge funds and other institutional investors have recently modified their holdings of KD. FMR LLC grew its position in Kyndryl by 35.1% in the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after acquiring an additional 1,569,260 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after purchasing an additional 1,254,208 shares during the last quarter. Cinctive Capital Management LP purchased a new position in shares of Kyndryl during the 3rd quarter worth $20,213,000. Cortland Associates Inc. MO increased its position in shares of Kyndryl by 35.7% during the 3rd quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock worth $49,421,000 after purchasing an additional 565,263 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Kyndryl by 166.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock valued at $19,284,000 after buying an additional 524,168 shares during the period. 71.53% of the stock is owned by hedge funds and other institutional investors.

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.