Kyndryl (NYSE:KD) Coverage Initiated at Oppenheimer

Equities research analysts at Oppenheimer began coverage on shares of Kyndryl (NYSE:KD) in a research note issued to investors on Thursday, MarketBeat reports. The firm set an “outperform” rating and a $33.00 price target on the stock. Oppenheimer’s price target suggests a potential upside of 30.43% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Susquehanna lifted their price objective on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, May 9th. Scotiabank lifted their target price on shares of Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a research note on Monday, May 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Kyndryl has a consensus rating of “Buy” and an average price target of $29.40.

Kyndryl Stock Down 0.9 %

NYSE KD opened at $25.30 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. The stock’s 50 day moving average is $24.71 and its two-hundred day moving average is $22.30. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of -16.98, a PEG ratio of 5.87 and a beta of 1.70. Kyndryl has a 1-year low of $11.92 and a 1-year high of $28.60.

Kyndryl (NYSE:KD) last released its quarterly earnings data 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 company had revenue of $3.85 billion for 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 company’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) earnings per share. Equities analysts forecast that Kyndryl will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Vineet Khurana sold 30,430 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total value of $802,134.80. Following the completion of the transaction, 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 accessible through the SEC website. 1.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Invesco Ltd. raised its position in shares of Kyndryl by 31.2% during the 3rd quarter. Invesco Ltd. now owns 1,817,569 shares of the company’s stock valued at $27,445,000 after acquiring an additional 431,990 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Kyndryl by 70.8% during the 3rd quarter. Hsbc Holdings PLC now owns 129,148 shares of the company’s stock valued at $1,949,000 after acquiring an additional 53,516 shares during the last quarter. Mariner LLC raised its position in shares of Kyndryl by 27.0% during the 3rd quarter. Mariner LLC now owns 32,516 shares of the company’s stock valued at $491,000 after acquiring an additional 6,916 shares during the last quarter. Northern Trust Corp raised its position in shares of Kyndryl by 13.2% during the 3rd quarter. Northern Trust Corp now owns 1,990,763 shares of the company’s stock valued at $30,061,000 after acquiring an additional 232,228 shares during the last quarter. Finally, Natixis Advisors L.P. grew its holdings in shares of Kyndryl by 2.9% in the 3rd quarter. Natixis Advisors L.P. now owns 44,025 shares of the company’s stock valued at $665,000 after buying an additional 1,222 shares during the period. Institutional investors own 71.53% of the company’s stock.

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.