Kingsoft Cloud (NASDAQ:KC) PT Lowered to $8.50 at Citigroup

Kingsoft Cloud (NASDAQ:KCGet Rating) had its price target decreased by analysts at Citigroup from $10.00 to $8.50 in a research note issued to investors on Thursday, The Fly reports. Citigroup’s target price points to a potential upside of 53.43% from the stock’s current price.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Kingsoft Cloud from a “neutral” rating to an “underweight” rating in a research report on Monday, March 14th. Zacks Investment Research downgraded Kingsoft Cloud from a “hold” rating to a “sell” rating in a report on Thursday, February 24th. Finally, The Goldman Sachs Group began coverage on Kingsoft Cloud in a report on Sunday, April 10th. They set a “hold” rating and a $9.50 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.00.

Shares of KC opened at $5.54 on Thursday. The firm has a 50-day moving average price of $4.23 and a 200 day moving average price of $8.50. The firm has a market capitalization of $1.35 billion, a PE ratio of -5.23 and a beta of 2.51. Kingsoft Cloud has a 52-week low of $2.50 and a 52-week high of $41.14.

Kingsoft Cloud (NASDAQ:KCGet Rating) last announced its earnings results on Thursday, March 24th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.04. Kingsoft Cloud had a negative net margin of 17.53% and a negative return on equity of 16.12%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the company posted ($0.07) earnings per share. The business’s revenue for the quarter was up 38.3% on a year-over-year basis.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in shares of Kingsoft Cloud by 250.8% during the first quarter. Bank of America Corp DE now owns 349,331 shares of the company’s stock valued at $2,120,000 after acquiring an additional 249,751 shares during the period. River & Mercantile Asset Management LLP lifted its holdings in shares of Kingsoft Cloud by 126.5% during the first quarter. River & Mercantile Asset Management LLP now owns 105,288 shares of the company’s stock valued at $639,000 after acquiring an additional 58,800 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Kingsoft Cloud by 33.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,224,912 shares of the company’s stock valued at $7,435,000 after acquiring an additional 303,984 shares during the period. Alpha Square Group S LLC lifted its holdings in shares of Kingsoft Cloud by 42.1% during the first quarter. Alpha Square Group S LLC now owns 6,539,654 shares of the company’s stock valued at $39,696,000 after acquiring an additional 1,937,146 shares during the period. Finally, State Street Corp lifted its holdings in shares of Kingsoft Cloud by 53.4% during the first quarter. State Street Corp now owns 1,752,811 shares of the company’s stock valued at $10,640,000 after acquiring an additional 609,961 shares during the period. Hedge funds and other institutional investors own 36.42% of the company’s stock.

Kingsoft Cloud Company Profile (Get Rating)

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; enterprise cloud services to customers in financial service, public service, and healthcare business, and others.

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