Oppenheimer Increases Kyndryl (NYSE:KD) Price Target to $37.00

Kyndryl (NYSE:KD) had its price objective increased by equities researchers at Oppenheimer from $33.00 to $37.00 in a research note issued to investors on Friday, MarketBeat.com reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 11.95% from the company’s current price.

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

Kyndryl Stock Up 1.7 %

KD stock opened at $33.05 on Friday. Kyndryl has a 52-week low of $17.64 and a 52-week high of $33.62. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $7.68 billion, a P/E ratio of -84.74, a P/E/G ratio of 7.83 and a beta of 1.63. The company’s 50 day simple moving average is $24.99 and its 200-day simple moving average is $25.22.

Hedge Funds Weigh In On Kyndryl

A number of institutional investors have recently made changes to their positions in KD. Tidal Investments LLC increased its stake in Kyndryl by 240.7% during the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after acquiring an additional 39,408 shares during the period. SG Americas Securities LLC acquired a new stake in Kyndryl in the 2nd quarter valued at $1,418,000. Acadian Asset Management LLC acquired a new position in Kyndryl during the first quarter worth $26,000. International Assets Investment Management LLC lifted its holdings in shares of Kyndryl by 2,035.3% during the third quarter. International Assets Investment Management LLC now owns 40,100 shares of the company’s stock valued at $921,000 after acquiring an additional 38,222 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Kyndryl by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock valued at $563,868,000 after purchasing an additional 81,826 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.

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.