Kyndryl Holdings, Inc. (NYSE:KD) Receives $29.40 Consensus Target Price from Brokerages

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have earned a consensus recommendation of “Buy” from the five research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $29.40.

Several research analysts have recently commented on the company. Susquehanna lifted their target price on Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, May 9th. Scotiabank lifted their price target on Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a report on Monday, May 13th. Finally, Oppenheimer initiated coverage on Kyndryl in a report on Thursday, June 27th. They set an “outperform” rating and a $33.00 price target for the company.

Insider Activity

In other Kyndryl 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 sale, the senior vice president now owns 78,722 shares in the company, valued at approximately $2,075,111.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On Kyndryl

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Kyndryl during the 4th quarter worth approximately $54,283,000. Hennessy Advisors Inc. bought a new position in shares of Kyndryl in the fourth quarter valued at approximately $28,992,000. Cortland Associates Inc. MO bought a new position in shares of Kyndryl in the first quarter valued at approximately $27,554,000. Vanguard Group Inc. grew its holdings in shares of Kyndryl by 3.4% in the third quarter. Vanguard Group Inc. now owns 26,038,728 shares of the company’s stock valued at $393,185,000 after acquiring an additional 844,205 shares in the last quarter. Finally, Greenlight Capital Inc. grew its holdings in Kyndryl by 13.7% during the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock valued at $132,079,000 after purchasing an additional 767,943 shares during the period. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Up 1.2 %

NYSE:KD opened at $26.95 on Monday. 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 company has a market cap of $6.21 billion, a PE ratio of -18.09, a PEG ratio of 5.39 and a beta of 1.67. Kyndryl has a 52-week low of $11.92 and a 52-week high of $28.60. The stock has a 50-day simple moving average of $26.49 and a 200 day simple moving average of $23.29.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate 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 was down 9.5% compared to the same quarter last year. During the same period last year, the company earned ($0.21) earnings per share. On average, sell-side analysts expect that Kyndryl will post 1 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.