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

Kyndryl (NYSE:KD) had its price target hoisted by Oppenheimer from $33.00 to $37.00 in a research report released on Friday, Marketbeat.com reports. Oppenheimer currently has an outperform rating on the stock.

Separately, Bank of America initiated coverage on Kyndryl in a report on Friday. They issued a “buy” rating and a $40.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Kyndryl Stock Up 1.7 %

Shares of KD stock opened at $33.04 on Friday. The company has a 50 day simple moving average of $24.78 and a two-hundred day simple moving average of $25.14. Kyndryl has a 12 month low of $17.64 and a 12 month high of $33.62. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65.

Institutional Trading of Kyndryl

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC grew its holdings in shares of Kyndryl by 240.7% in the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after purchasing an additional 39,408 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Kyndryl in the 2nd quarter worth about $1,418,000. Acadian Asset Management LLC purchased a new stake in shares of Kyndryl during the 1st quarter valued at about $26,000. International Assets Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 38,222 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Kyndryl by 0.3% during the first quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock worth $563,868,000 after acquiring an additional 81,826 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

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.