Kyndryl (NYSE:KD) Sets New 12-Month High – Should You Buy?

Kyndryl Holdings, Inc. (NYSE:KD) hit a new 52-week high on Wednesday . The company traded as high as $34.43 and last traded at $34.35, with a volume of 71085 shares. The stock had previously closed at $34.31.

Wall Street Analyst Weigh In

KD has been the subject of a number of research reports. Bank of America assumed coverage on Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 target price for the company. Oppenheimer lifted their target price on Kyndryl from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Susquehanna upped their price target on Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a research report on Friday, November 22nd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $33.00.

Kyndryl Trading Up 1.5 %

The firm has a market cap of $8.09 billion, a price-to-earnings ratio of -89.28, a P/E/G ratio of 8.17 and a beta of 1.63. 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 business has a 50-day moving average of $25.66 and a 200-day moving average of $25.41.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KD. FMR LLC grew its stake in shares of Kyndryl by 35.1% in the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after buying an additional 1,569,260 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after acquiring an additional 1,254,208 shares during the last quarter. Cinctive Capital Management LP bought a new position in shares of Kyndryl in the 3rd quarter valued at about $20,213,000. Great Lakes Advisors LLC bought a new stake in shares of Kyndryl in the 2nd quarter valued at about $19,996,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Kyndryl by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock valued at $72,768,000 after purchasing an additional 675,800 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

About Kyndryl

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.