Brokerages Set Kingsoft Cloud Holdings Limited (NASDAQ:KC) Price Target at $45.60

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $45.60.

Several brokerages recently issued reports on KC. Nomura downgraded Kingsoft Cloud from a “buy” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $33.00 in a report on Wednesday, September 29th. Zacks Investment Research downgraded Kingsoft Cloud from a “hold” rating to a “sell” rating in a report on Thursday, October 28th. Citigroup cut their target price on Kingsoft Cloud from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, October 26th. Finally, Nomura Instinet reissued a “neutral” rating and issued a $33.00 price objective (down previously from $45.00) on shares of Kingsoft Cloud in a research note on Wednesday, September 29th.

KC stock traded down $0.40 during trading on Thursday, reaching $19.31. The stock had a trading volume of 1,979,667 shares, compared to its average volume of 1,521,916. Kingsoft Cloud has a 1-year low of $17.37 and a 1-year high of $74.67. The company has a market capitalization of $4.32 billion, a P/E ratio of -35.11 and a beta of 1.41. The firm has a fifty day moving average price of $26.17 and a 200 day moving average price of $30.35.

Kingsoft Cloud (NASDAQ:KC) last released its earnings results on Tuesday, November 23rd. The company reported ($1.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($1.24). The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.44 billion. Kingsoft Cloud had a negative return on equity of 10.07% and a negative net margin of 10.68%. Kingsoft Cloud’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) EPS. On average, research analysts expect that Kingsoft Cloud will post -0.91 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada acquired a new stake in Kingsoft Cloud during the third quarter worth $27,000. Schroder Investment Management Group boosted its stake in Kingsoft Cloud by 43.6% during the first quarter. Schroder Investment Management Group now owns 3,551 shares of the company’s stock worth $140,000 after buying an additional 1,078 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Kingsoft Cloud by 80.9% during the second quarter. Macquarie Group Ltd. now owns 3,971 shares of the company’s stock worth $134,000 after buying an additional 1,776 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Kingsoft Cloud by 455.9% during the second quarter. Panagora Asset Management Inc. now owns 6,532 shares of the company’s stock worth $222,000 after buying an additional 5,357 shares in the last quarter. Finally, Dai Ichi Life Insurance Company Ltd acquired a new stake in Kingsoft Cloud during the second quarter worth $241,000. Hedge funds and other institutional investors own 29.16% of the company’s stock.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; enterprise cloud services to customers in financial service, public service, and healthcare business, and others.

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Analyst Recommendations for Kingsoft Cloud (NASDAQ:KC)

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