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

Kyndryl (NYSE:KD - Get Free Report) had its price objective boosted by equities research analysts at Susquehanna from $33.00 to $40.00 in a report issued on Friday,Benzinga reports. The firm presently has a "positive" rating on the stock. Susquehanna's price target would suggest a potential upside of 21.03% from the company's current price.

Several other analysts have also commented on KD. Bank of America started coverage on shares of Kyndryl in a research report on Friday. They set a "buy" rating and a $40.00 price target on the stock. Oppenheimer boosted their price target on shares of Kyndryl from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $33.00.

Kyndryl Trading Up 1.7 %

Shares of KD traded up $0.56 during mid-day trading on Friday, reaching $33.05. The stock had a trading volume of 5,066,212 shares, compared to its average volume of 1,741,428. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03. The business's fifty day moving average is $24.78 and its 200 day moving average is $25.14. Kyndryl has a 52-week low of $17.64 and a 52-week high of $33.62. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of -83.28, a P/E/G ratio of 6.76 and a beta of 1.63.

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Hedge Funds Weigh In On Kyndryl

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KD. Vanguard Group Inc. increased 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 purchasing an additional 81,826 shares during the last quarter. FMR LLC grew its stake in shares of 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 purchasing an additional 1,569,260 shares in the last quarter. Geode Capital Management LLC increased its holdings in Kyndryl by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company's stock valued at $88,908,000 after buying an additional 63,997 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company's stock valued at $74,894,000 after buying an additional 1,254,208 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Kyndryl by 32.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company's stock worth $72,768,000 after buying an additional 675,800 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

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.