Kingsoft Cloud (NASDAQ:KC) Issues Quarterly Earnings Results

Kingsoft Cloud (NASDAQ:KC) posted its quarterly earnings results on Wednesday. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06, Briefing.com reports. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business posted $0.08 EPS. The firm’s revenue was up 29.6% on a year-over-year basis.

Kingsoft Cloud Trading Up 0.3 %

Shares of Kingsoft Cloud stock opened at $18.09 on Wednesday. The company has a fifty day simple moving average of $15.11 and a 200-day simple moving average of $8.72. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $22.26. 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 stock has a market cap of $4.59 billion, a price-to-earnings ratio of -15.08 and a beta of 2.23.

Wall Street Analysts Forecast Growth

Several research analysts have commented on KC shares. Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Nomura cut shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.93.

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.