Kyndryl (NYSE:KD) Price Target Raised to $40.00

Kyndryl (NYSE:KD) had its price objective hoisted by Susquehanna from $33.00 to $40.00 in a research note released on Friday,Benzinga reports. Susquehanna currently has a positive rating on the stock.

A number of other research analysts also recently weighed in on KD. Oppenheimer raised their price target on shares of Kyndryl from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Friday. Bank of America initiated coverage on Kyndryl in a report on Friday. They set a “buy” rating and a $40.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kyndryl currently has an average rating of “Buy” and an average price target of $33.00.

Kyndryl Stock Up 2.6 %

Kyndryl stock opened at $33.92 on Friday. The company has a market capitalization of $7.88 billion, a P/E ratio of -86.28, a P/E/G ratio of 7.96 and a beta of 1.63. The firm’s fifty day simple moving average is $24.99 and its 200-day simple moving average is $25.24. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. Kyndryl has a 1-year low of $17.64 and a 1-year high of $34.33.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FMR LLC raised its stake in Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after acquiring an additional 1,569,260 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Kyndryl by 62.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after acquiring an additional 1,254,208 shares in the last quarter. Cinctive Capital Management LP bought a new stake in shares of Kyndryl during the third quarter worth $20,213,000. Great Lakes Advisors LLC bought a new stake in shares of Kyndryl during the second quarter worth $19,996,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Kyndryl by 32.3% during the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock worth $72,768,000 after purchasing an additional 675,800 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Company Profile

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.