Kyndryl (NYSE:KD) Shares Down 5.1% – Time to Sell?

by · The Markets Daily

Kyndryl Holdings, Inc. (NYSE:KD – Get Free Report) shares dropped 5.1% during trading on Tuesday. The company traded as low as $12.81 and last traded at $12.8810. Approximately 752,298 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 4,445,825 shares. The stock had previously closed at $13.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $16.00 price target on shares of Kyndryl in a research report on Thursday, August 6th. Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Weiss Ratings lowered Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, August 10th. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Kyndryl currently has an average rating of “Reduce” and an average price target of $16.50.

Check Out Our Latest Report on KD

Kyndryl Stock Performance

The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 35.79 and a beta of 1.66. The company’s fifty day simple moving average is $12.81 and its 200 day simple moving average is $13.58. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.96.

Kyndryl (NYSE:KD – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the firm posted $0.37 EPS. Kyndryl’s revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts expect that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current year.

Institutional Investors Weigh In On Kyndryl

A number of institutional investors have recently made changes to their positions in KD. State Street Corp increased its position in Kyndryl by 6.8% during the 2nd quarter. State Street Corp now owns 7,792,865 shares of the company’s stock worth $88,137,000 after buying an additional 492,925 shares during the period. Sound Shore Management Inc. CT lifted its holdings in shares of Kyndryl by 39.5% during the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after buying an additional 1,173,761 shares in the last quarter. Cooper Creek Partners Management LLC boosted its position in shares of Kyndryl by 498.5% in the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock valued at $51,115,000 after acquiring an additional 3,245,013 shares during the period. Arnhold LLC boosted its position in shares of Kyndryl by 6.1% in the third quarter. Arnhold LLC now owns 2,058,952 shares of the company’s stock valued at $23,184,000 after acquiring an additional 118,880 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Kyndryl by 12.8% in the first quarter. Bank of America Corp DE now owns 1,792,792 shares of the company’s stock valued at $23,521,000 after acquiring an additional 203,032 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

About Kyndryl

(Get Free Report)

Kyndryl Holdings, Inc (NYSE:KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services help customers operate and transform complex IT environments, including cloud, data centers, networks, applications and digital workplaces.

The company provides consulting and implementation services as well as ongoing managed services. Its capabilities include cloud solutions, network and edge services, cybersecurity, data and artificial intelligence, application management, enterprise computing and technology modernization.

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