Kyndryl (NYSE:KD) Coverage Initiated at BMO Capital Markets

Equities researchers at BMO Capital Markets initiated coverage on shares of Kyndryl (NYSE:KD) in a research note issued to investors on Monday, Marketbeat reports. The firm set a “market perform” rating and a $15.00 price target on the stock. BMO Capital Markets’ target price would indicate a potential upside of 3.29% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Kyndryl from a “hold” rating to a “buy” rating in a research note on Sunday, February 22nd. Scotiabank started coverage on Kyndryl in a research report on Tuesday, January 27th. They issued an “outperform” rating on the stock. Oppenheimer restated a “market perform” rating on shares of Kyndryl in a research report on Monday, February 9th. Weiss Ratings cut Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 18th. Finally, Morgan Stanley cut their price objective on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $23.83.

Kyndryl Stock Down 0.8%

Kyndryl stock opened at $14.52 on Monday. The firm has a 50 day simple moving average of $12.80 and a 200 day simple moving average of $21.38. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.75. Kyndryl has a 1-year low of $10.10 and a 1-year high of $44.20. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.83 and a beta of 1.83.

Kyndryl (NYSE:KD) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.08). Kyndryl had a net margin of 1.65% and a return on equity of 25.91%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Kyndryl will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Kyndryl

Hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in Kyndryl in the 4th quarter worth approximately $29,000. Quarry LP bought a new stake in shares of Kyndryl in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its stake in shares of Kyndryl by 192.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company’s stock valued at $35,000 after purchasing an additional 770 shares in the last quarter. NBT Bank N A NY boosted its stake in shares of Kyndryl by 3,220.0% in the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock valued at $35,000 after purchasing an additional 1,288 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Kyndryl by 4,475.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock valued at $39,000 after purchasing an additional 1,432 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Company Profile

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.