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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has earned an average recommendation of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.93.

A number of brokerages have issued reports on KC. Nomura raised Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2.30 to $6.70 in a research note on Friday, November 22nd. Nomura Securities raised Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, UBS Group upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and upped their price target for the stock from $4.20 to $12.50 in a research note on Friday, December 6th.

Kingsoft Cloud Price Performance

KC stock opened at $9.58 on Tuesday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -7.98 and a beta of 2.49. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. Kingsoft Cloud has a 52-week low of $2.02 and a 52-week high of $9.77. The stock’s fifty day simple moving average is $5.52 and its 200-day simple moving average is $3.63.

Institutional Trading of Kingsoft Cloud

Hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in Kingsoft Cloud by 0.5% during the 3rd quarter. State Street Corp now owns 609,790 shares of the company’s stock valued at $1,793,000 after purchasing an additional 3,104 shares in the last quarter. Blue Trust Inc. grew its stake in Kingsoft Cloud by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after purchasing an additional 4,458 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Kingsoft Cloud in the 2nd quarter valued at approximately $27,000. Swedbank AB boosted its stake in shares of Kingsoft Cloud by 5.5% during the 2nd quarter. Swedbank AB now owns 225,140 shares of the company’s stock valued at $565,000 after buying an additional 11,800 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Kingsoft Cloud during the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Company Profile

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.