Kingsoft Cloud (NASDAQ:KC) Raised to Buy at Nomura

Kingsoft Cloud (NASDAQ:KC) was upgraded by equities research analysts at Nomura from a “neutral” rating to a “buy” rating in a research note issued on Friday,Briefing.com Automated Import reports. The firm presently has a $6.70 target price on the stock, up from their prior target price of $2.30. Nomura’s target price suggests a potential upside of 15.92% from the company’s previous close.

Separately, Bank of America decreased their price target on Kingsoft Cloud from $3.80 to $3.20 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kingsoft Cloud presently has an average rating of “Moderate Buy” and an average target price of $4.62.

Kingsoft Cloud Stock Performance

KC stock opened at $5.78 on Friday. The firm has a 50 day simple moving average of $3.31 and a 200 day simple moving average of $2.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. Kingsoft Cloud has a 52 week low of $2.02 and a 52 week high of $6.54. The stock has a market cap of $1.47 billion, a P/E ratio of -4.82 and a beta of 2.00.

Kingsoft Cloud (NASDAQ:KC) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The firm had revenue of $260.32 million during the quarter, compared to analyst estimates of $251.17 million. Kingsoft Cloud had a negative return on equity of 18.26% and a negative net margin of 28.41%. Research analysts anticipate that Kingsoft Cloud will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds have recently added to or reduced their stakes in the business. Swedbank AB bought a new stake in Kingsoft Cloud in the 1st quarter valued at $649,000. SG Americas Securities LLC bought a new stake in shares of Kingsoft Cloud in the third quarter valued at about $47,000. Blue Trust Inc. grew its stake in shares of Kingsoft Cloud by 30.9% in the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after acquiring an additional 4,458 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Kingsoft Cloud by 313.9% in the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company’s stock valued at $83,000 after purchasing an additional 24,932 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company’s stock worth $1,156,000 after purchasing an additional 17,700 shares in the last quarter. Institutional investors and hedge funds own 13.40% of the company’s stock.

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.