Kingsoft Cloud (NASDAQ:KC - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.06, Briefing.com reports. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business's revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share.
Kingsoft Cloud Stock Performance
KC stock traded down $1.05 on Friday, hitting $15.43. The company had a trading volume of 7,066,775 shares, compared to its average volume of 2,370,915. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $22.26. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock's 50-day simple moving average is $15.49 and its 200 day simple moving average is $9.03. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -12.86 and a beta of 2.23.
Analyst Ratings Changes
A number of research firms have recently commented on KC. Nomura cut shares of Kingsoft Cloud from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price target for the company from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura Securities cut shares of Kingsoft Cloud from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $6.55.
View Our Latest Report on Kingsoft Cloud
Kingsoft Cloud Company Profile
(
Get Free Report)
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.
Read More
Before you consider Kingsoft Cloud, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kingsoft Cloud wasn't on the list.
While Kingsoft Cloud currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
