Kyndryl (NYSE:KD) Stock Price Expected to Rise, Oppenheimer Analyst Says

Kyndryl (NYSE:KD) had its price objective boosted by Oppenheimer from $33.00 to $37.00 in a research note issued to investors on Friday morning, Marketbeat.com reports. Oppenheimer currently has an outperform rating on the stock.

Separately, Bank of America assumed coverage on Kyndryl in a research report on Friday. They issued a “buy” rating and a $40.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kyndryl presently has an average rating of “Buy” and a consensus price target of $33.00.

Kyndryl Price Performance

Shares of NYSE KD opened at $33.92 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. The firm has a 50-day simple moving average of $24.99 and a 200-day simple moving average of $25.24. Kyndryl has a 52 week low of $17.64 and a 52 week high of $34.33. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of -86.28, a price-to-earnings-growth ratio of 7.96 and a beta of 1.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Kyndryl by 0.3% in the first quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock valued at $563,868,000 after acquiring an additional 81,826 shares in the last quarter. FMR LLC raised its stake in shares of Kyndryl by 35.1% in the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after acquiring an additional 1,569,260 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Kyndryl by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock valued at $88,908,000 after acquiring an additional 63,997 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after acquiring an additional 1,254,208 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Kyndryl by 32.3% in the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock valued at $72,768,000 after acquiring an additional 675,800 shares in the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

About Kyndryl

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.