Kyndryl Holdings, Inc. (NYSE:KD) Given Consensus Recommendation of “Buy” by Brokerages

Kyndryl Holdings, Inc. (NYSE:KD) has been assigned a consensus recommendation of “Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $29.40.

Separately, Bank of America began coverage on shares of Kyndryl in a research report on Friday. They issued a “buy” rating and a $40.00 price target for the company.

Hedge Funds Weigh In On Kyndryl

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KD. Tidal Investments LLC grew its position in Kyndryl by 240.7% during the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock worth $1,214,000 after buying an additional 39,408 shares in the last quarter. SG Americas Securities LLC bought a new position in Kyndryl during the second quarter worth about $1,418,000. Acadian Asset Management LLC acquired a new position in shares of Kyndryl during the 1st quarter worth about $26,000. International Assets Investment Management LLC increased its stake 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. raised its position 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 acquiring an additional 81,826 shares during the period. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Up 13.8 %

Shares of Kyndryl stock opened at $32.48 on Friday. Kyndryl has a 1 year low of $17.64 and a 1 year high of $33.26. The company has a market cap of $7.54 billion, a P/E ratio of -83.28, a P/E/G ratio of 6.76 and a beta of 1.63. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. The stock has a 50-day moving average price of $24.59 and a 200 day moving average price of $25.09.

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.