Kyndryl (NYSE:KD) Reaches New 1-Year High on Strong Earnings

Shares of Kyndryl Holdings, Inc. (NYSE:KD) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $25.36 and last traded at $25.17, with a volume of 2518101 shares trading hands. The stock had previously closed at $20.77.

The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. Kyndryl had a negative net margin of 6.27% and a negative return on equity of 7.39%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was down 9.5% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Separately, Susquehanna upgraded shares of Kyndryl from a “neutral” rating to a “positive” rating and upped their target price for the company from $19.00 to $27.00 in a research note on Monday, February 12th.

Hedge Funds Weigh In On Kyndryl

Hedge funds have recently made changes to their positions in the business. ORG Partners LLC increased its position in shares of Kyndryl by 622.4% during the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock worth $31,000 after purchasing an additional 1,220 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in Kyndryl during the 1st quarter worth about $33,000. Fortis Group Advisors LLC grew its holdings in Kyndryl by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after acquiring an additional 800 shares during the last quarter. Pingora Partners LLC bought a new stake in Kyndryl during the 4th quarter worth about $50,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Kyndryl by 123.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,534 shares of the company’s stock valued at $56,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Stock Up 27.8 %

The company has a market cap of $6.11 billion, a P/E ratio of -5.86, a price-to-earnings-growth ratio of 5.79 and a beta of 1.57. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.03. The firm’s 50 day moving average price is $21.29 and its 200-day moving average price is $19.95.

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.