Kyndryl Holdings, Inc. (NYSE:KD) Receives Consensus Recommendation of “Buy” from Brokerages

Kyndryl Holdings, Inc. (NYSE:KD) has received a consensus rating of “Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $29.40.

Separately, Bank of America started coverage on Kyndryl in a report on Friday. They issued a “buy” rating and a $40.00 price target for the company.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KD. FMR LLC grew its holdings in Kyndryl by 35.1% during the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after acquiring an additional 1,569,260 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after purchasing an additional 1,254,208 shares in the last quarter. Cinctive Capital Management LP bought a new stake in Kyndryl during the third quarter valued at $20,213,000. Great Lakes Advisors LLC bought a new position in shares of Kyndryl during the second quarter valued at approximately $19,996,000. Finally, Renaissance Technologies LLC grew its position in shares of Kyndryl by 32.3% during the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock worth $72,768,000 after acquiring an additional 675,800 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

NYSE:KD opened at $32.48 on Friday. Kyndryl has a 12-month low of $17.64 and a 12-month high of $33.26. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of -83.28, a price-to-earnings-growth ratio of 6.76 and a beta of 1.63. The company’s 50-day moving average is $24.59 and its two-hundred day moving average is $25.09. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65.

Kyndryl Company Profile

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.