Kingsoft Cloud Holdings Limited (NASDAQ:KC) Receives $5.93 Average PT from Analysts

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has been assigned an average rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.93.

Several research analysts have weighed in on the stock. Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. Finally, UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and increased their price target for the stock from $4.20 to $12.50 in a research report on Friday, December 6th.

Hedge Funds Weigh In On Kingsoft Cloud

Large investors have recently made changes to their positions in the company. Profund Advisors LLC purchased a new position in shares of Kingsoft Cloud during the 2nd quarter worth about $27,000. SG Americas Securities LLC bought a new stake in Kingsoft Cloud during the 3rd quarter valued at about $47,000. Blue Trust Inc. lifted its holdings in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Kingsoft Cloud in the 3rd quarter valued at about $119,000. 13.40% of the stock is owned by hedge funds and other institutional investors.

Kingsoft Cloud Trading Down 10.4 %

Shares of KC stock opened at $9.15 on Friday. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $12.84. 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 firm’s 50 day moving average is $7.96 and its 200 day moving average is $4.51. The stock has a market capitalization of $2.32 billion, a P/E ratio of -7.63 and a beta of 2.29.

Kingsoft Cloud Company Profile

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.