Kyndryl (NYSE:KD) Shares Gap Up to $20.34

Kyndryl Holdings, Inc. (NYSE:KDGet Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $20.34, but opened at $21.60. Kyndryl shares last traded at $20.82, with a volume of 740,281 shares trading hands.

Wall Street Analysts Forecast Growth

KD has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of Kyndryl from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $25.00 in a report on Monday, December 18th. Evercore ISI raised shares of Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 price objective for the company in a report on Monday, January 8th. TheStreet raised shares of Kyndryl from a “d” rating to a “c” rating in a report on Tuesday, December 12th. Finally, Susquehanna raised their price objective on shares of Kyndryl from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Check Out Our Latest Stock Report on Kyndryl

Kyndryl Stock Up 3.2 %

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.81. The firm’s fifty day moving average is $20.17 and its 200-day moving average is $17.25.

Kyndryl (NYSE:KDGet Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Kyndryl had a negative net margin of 6.27% and a negative return on equity of 7.37%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.45) EPS. On average, equities research analysts expect that Kyndryl Holdings, Inc. will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyndryl

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KD. SG Americas Securities LLC acquired a new stake in shares of Kyndryl during the 3rd quarter worth approximately $963,000. Principal Financial Group Inc. grew its holdings in Kyndryl by 9.8% during the third quarter. Principal Financial Group Inc. now owns 844,197 shares of the company’s stock valued at $12,747,000 after purchasing an additional 75,336 shares during the period. Raymond James & Associates grew its holdings in Kyndryl by 1.3% during the second quarter. Raymond James & Associates now owns 92,934 shares of the company’s stock valued at $1,234,000 after purchasing an additional 1,213 shares during the period. Bank of New York Mellon Corp grew its holdings in Kyndryl by 4.0% during the third quarter. Bank of New York Mellon Corp now owns 2,036,088 shares of the company’s stock valued at $30,745,000 after purchasing an additional 78,480 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Kyndryl by 11.7% during the third quarter. California Public Employees Retirement System now owns 429,429 shares of the company’s stock valued at $6,484,000 after purchasing an additional 45,058 shares during the period. Institutional investors and hedge funds own 64.89% of the company’s stock.

About Kyndryl

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Kyndryl Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kyndryl and related companies with MarketBeat.com's FREE daily email newsletter.