Kyndryl (NYSE:KD) Price Target Raised to $37.00 at Oppenheimer

Kyndryl (NYSE:KD) had its price objective raised by Oppenheimer from $33.00 to $37.00 in a research note published on Friday morning, Marketbeat reports. The firm currently has an outperform rating on the stock.

Separately, Bank of America initiated coverage on Kyndryl in a research report on Friday. They set a “buy” rating and a $40.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kyndryl currently has a consensus rating of “Buy” and a consensus price target of $33.00.

Kyndryl Stock Performance

Shares of NYSE KD opened at $33.04 on Friday. Kyndryl has a 1 year low of $17.64 and a 1 year high of $33.62. The company’s 50-day moving average is $24.78 and its 200 day moving average is $25.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65.

Institutional Inflows and Outflows

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

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.