Scotiabank Reaffirms Hold Rating for Kyndryl (NYSE:KD)

Kyndryl (NYSE:KD)‘s stock had its “hold” rating reissued by stock analysts at Scotiabank in a research report issued to clients and investors on Friday, MarketBeat.com reports. They presently have a $16.50 price objective on the stock. Scotiabank’s target price points to a potential upside of 21.44% from the stock’s current price.

Several other research firms have also issued reports on KD. Oppenheimer reissued a “market perform” rating on shares of Kyndryl in a report on Monday, February 9th. Zacks Research lowered Kyndryl from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Wall Street Zen raised Kyndryl from a “hold” rating to a “buy” rating in a report on Sunday, February 22nd. Susquehanna cut their price target on Kyndryl from $35.00 to $16.00 and set a “positive” rating for the company in a report on Friday, February 13th. Finally, Guggenheim lowered Kyndryl from a “buy” rating to a “neutral” rating in a report on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $22.79.

Kyndryl Stock Up 1.2%

Kyndryl stock opened at $13.59 on Friday. The stock has a market cap of $3.06 billion, a PE ratio of 12.94 and a beta of 1.83. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.86 and a current ratio of 0.86. Kyndryl has a one year low of $10.10 and a one year high of $44.20. The stock has a fifty day moving average of $12.91 and a 200 day moving average of $21.09.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Kyndryl had a net margin of 1.65% and a return on equity of 25.91%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS. As a group, sell-side analysts predict that Kyndryl will post 1.29 EPS for the current year.

Hedge Funds Weigh In On Kyndryl

Hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in shares of Kyndryl in the fourth quarter worth about $29,000. Smartleaf Asset Management LLC boosted its stake in shares of Kyndryl by 192.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company’s stock worth $35,000 after acquiring an additional 770 shares during the period. Quarry LP bought a new position in shares of Kyndryl in the fourth quarter worth about $31,000. NBT Bank N A NY boosted its stake in shares of Kyndryl by 3,220.0% in the fourth quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock worth $35,000 after acquiring an additional 1,288 shares during the period. Finally, Optiver Holding B.V. bought a new position in shares of Kyndryl in the third quarter worth about $40,000. Institutional investors own 71.53% of the company’s stock.

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.