Oppenheimer Initiates Coverage on Kyndryl (NYSE:KD)

Stock analysts at Oppenheimer assumed coverage on shares of Kyndryl (NYSE:KD) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $33.00 price target on the stock. Oppenheimer’s target price suggests a potential upside of 25.43% from the stock’s previous close.

KD has been the subject of a number of other research reports. Scotiabank boosted their target price on shares of Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a research report on Monday, May 13th. Susquehanna boosted their price target on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, May 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kyndryl has a consensus rating of “Buy” and an average target price of $29.40.

Kyndryl Trading Up 1.0 %

Shares of Kyndryl stock opened at $26.31 on Thursday. The firm has a 50-day moving average of $24.97 and a 200-day moving average of $22.38. The stock has a market cap of $6.06 billion, a PE ratio of -17.66, a PEG ratio of 5.81 and a beta of 1.70. Kyndryl has a 52-week low of $11.92 and a 52-week high of $28.60. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.11. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.11%. Kyndryl’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) earnings per share. As a group, sell-side analysts forecast that Kyndryl will post 0.87 EPS for the current year.

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $26.36, for a total transaction of $802,134.80. Following the completion of the transaction, the senior vice president now owns 78,722 shares of the company’s stock, valued at $2,075,111.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new position in Kyndryl during the first quarter worth about $26,000. ORG Partners LLC increased its stake in shares of Kyndryl by 622.4% in the first quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock valued at $31,000 after buying an additional 1,220 shares during the period. Fortis Group Advisors LLC increased its stake in shares of Kyndryl by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock valued at $33,000 after buying an additional 800 shares during the period. Atlas Capital Advisors LLC acquired a new position in shares of Kyndryl in the first quarter valued at approximately $33,000. Finally, Raleigh Capital Management Inc. increased its stake in shares of Kyndryl by 100.3% in the third quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company’s stock valued at $46,000 after buying an additional 1,517 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.