Brokerages Set Kingsoft Cloud Holdings Limited (NASDAQ:KC) PT at $4.55

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.55.

Several equities analysts have recently weighed in on the company. Citigroup raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Thursday, March 21st. CLSA upgraded shares of Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price objective for the company in a research note on Thursday, March 21st. JPMorgan Chase & Co. raised shares of Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a research note on Monday, March 11th. Finally, Jefferies Financial Group increased their price target on Kingsoft Cloud from $3.40 to $3.80 and gave the company a “buy” rating in a report on Monday, March 25th.

Kingsoft Cloud Trading Down 0.4 %

NASDAQ:KC opened at $2.65 on Friday. The company has a market capitalization of $672.28 million, a P/E ratio of -2.05 and a beta of 2.13. Kingsoft Cloud has a twelve month low of $2.34 and a twelve month high of $8.03. The firm has a 50-day moving average price of $2.96 and a two-hundred day moving average price of $3.63.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings data on Wednesday, March 20th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Kingsoft Cloud had a negative return on equity of 27.14% and a negative net margin of 30.81%. The firm had revenue of $242.60 million for the quarter, compared to analyst estimates of $240.44 million. On average, equities research analysts predict that Kingsoft Cloud will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors have recently added to or reduced their stakes in KC. Rhumbline Advisers increased its position in shares of Kingsoft Cloud by 98.6% during the third quarter. Rhumbline Advisers now owns 5,600 shares of the company’s stock worth $28,000 after acquiring an additional 2,780 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Kingsoft Cloud by 7.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 46,404 shares of the company’s stock valued at $283,000 after purchasing an additional 3,334 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Kingsoft Cloud by 220.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company’s stock valued at $30,000 after buying an additional 3,400 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of Kingsoft Cloud by 2.8% during the fourth quarter. Penserra Capital Management LLC now owns 145,036 shares of the company’s stock worth $555,000 after buying an additional 3,914 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Kingsoft Cloud by 101.6% in the second quarter. Royal Bank of Canada now owns 7,938 shares of the company’s stock worth $48,000 after buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations 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, storage, and delivery solutions.