Kyndryl (NYSE:KD) Stock Price Expected to Rise, Susquehanna Analyst Says

Kyndryl (NYSE:KD) had its target price hoisted by equities research analysts at Susquehanna from $33.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 23.15% from the company’s current price.

Several other brokerages have also weighed in on KD. Bank of America assumed coverage on Kyndryl in a research note on Friday. They issued a “buy” rating and a $40.00 price target for the company. Oppenheimer upped their target price on Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kyndryl presently has an average rating of “Buy” and a consensus target price of $33.00.

Kyndryl Stock Performance

NYSE KD opened at $32.48 on Friday. Kyndryl has a fifty-two week low of $17.64 and a fifty-two week high of $33.26. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $7.54 billion, a P/E ratio of -83.28, a PEG ratio of 6.76 and a beta of 1.63. The stock has a 50-day simple moving average of $24.59 and a two-hundred day simple moving average of $25.09.

Hedge Funds Weigh In On Kyndryl

Several large investors have recently made changes to their positions in KD. Tidal Investments LLC grew its stake in shares of Kyndryl by 240.7% in the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock worth $1,214,000 after acquiring an additional 39,408 shares in the last quarter. SG Americas Securities LLC acquired a new position in Kyndryl during the 2nd quarter worth $1,418,000. Acadian Asset Management LLC purchased a new stake in Kyndryl during the 1st quarter worth about $26,000. International Assets Investment Management LLC raised its position in Kyndryl by 2,035.3% in the 3rd quarter. International Assets Investment Management LLC now owns 40,100 shares of the company’s stock valued at $921,000 after purchasing an additional 38,222 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Kyndryl by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock valued at $563,868,000 after buying an additional 81,826 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

About Kyndryl

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.