Brokerages Set Kingsoft Cloud Holdings Limited (NASDAQ:KC) Target Price at $5.93

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have received an average recommendation of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $5.93.

KC has been the topic of a number of research analyst reports. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.30 to $6.70 in a research note on Friday, November 22nd.

Institutional Investors Weigh In On Kingsoft Cloud

Several institutional investors and hedge funds have recently bought and sold shares of KC. State Street Corp grew its stake in shares of Kingsoft Cloud by 0.5% in the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after purchasing an additional 3,104 shares during the period. Renaissance Technologies LLC boosted its stake in Kingsoft Cloud by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock valued at $1,156,000 after buying an additional 17,700 shares in the last quarter. Jane Street Group LLC grew its position in Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company’s stock valued at $948,000 after acquiring an additional 255,795 shares during the period. GSA Capital Partners LLP raised its stake in Kingsoft Cloud by 90.2% during the third quarter. GSA Capital Partners LLP now owns 172,415 shares of the company’s stock worth $507,000 after acquiring an additional 81,751 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kingsoft Cloud during the third quarter valued at $326,000. Institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Price Performance

NASDAQ KC opened at $9.97 on Friday. The company has a market cap of $2.53 billion, a P/E ratio of -8.31 and a beta of 2.29. Kingsoft Cloud has a 1 year low of $2.02 and a 1 year high of $12.84. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $8.31 and a 200 day simple moving average of $4.63.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.