Analysts Set Kingsoft Cloud Holdings Limited (NASDAQ:KC) Target Price at $4.10

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.62.

KC has been the subject of a number of analyst reports. Nomura upgraded Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $2.30 to $6.70 in a research report on Friday. Bank of America dropped their price objective on Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a research note on Wednesday, August 21st.

Kingsoft Cloud Stock Up 24.7 %

Shares of KC traded up $1.43 during mid-day trading on Friday, reaching $7.21. The company had a trading volume of 7,778,662 shares, compared to its average volume of 4,126,732. The company's 50 day simple moving average is $3.41 and its 200 day simple moving average is $2.93. Kingsoft Cloud has a 1-year low of $2.02 and a 1-year high of $7.24. The company has a current ratio of 0.67, a quick ratio of 0.84 and a debt-to-equity ratio of 0.10.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.04). Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The firm had revenue of $260.32 million for the quarter, compared to analyst estimates of $251.17 million. On average, sell-side analysts forecast that Kingsoft Cloud will post -0.62 EPS for the current fiscal year.

Institutional Trading of Kingsoft Cloud

A number of large investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC purchased a new position in shares of Kingsoft Cloud during the 2nd quarter valued at $27,000. Blue Trust Inc. bought a new position in Kingsoft Cloud during the second quarter worth about $36,000. SG Americas Securities LLC purchased a new position in shares of Kingsoft Cloud in the third quarter worth about $47,000. Headlands Technologies LLC raised its position in shares of Kingsoft Cloud by 313.9% in the second quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock valued at $83,000 after purchasing an additional 24,932 shares during the period. Finally, Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at approximately $119,000. Hedge funds and other institutional investors own 13.40% of the company's stock.

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.