Brokerages Set Kingsoft Cloud Holdings Limited (NASDAQ:KC) Price Target at $5.93

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5.93.

A number of research firms recently issued reports on KC. Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $4.20 to $12.50 in a report on Friday, December 6th.

Hedge Funds Weigh In On Kingsoft Cloud

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in shares of Kingsoft Cloud in the 4th quarter valued at $119,000. Vise Technologies Inc. acquired a new stake in shares of Kingsoft Cloud in the 4th quarter valued at $125,000. Cetera Investment Advisers acquired a new stake in shares of Kingsoft Cloud in the 4th quarter valued at $138,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock valued at $205,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Kingsoft Cloud in the 4th quarter valued at $226,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Trading Down 0.3 %

NASDAQ KC opened at $17.54 on Friday. The company has a market capitalization of $4.45 billion, a PE ratio of -14.62 and a beta of 2.23. The company has a fifty day moving average of $14.18 and a 200 day moving average of $7.95. Kingsoft Cloud has a 1 year low of $2.02 and a 1 year high of $22.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.