Kyndryl (NYSE:KD) Given New $43.00 Price Target at Oppenheimer

Kyndryl (NYSE:KD) had its price objective raised by stock analysts at Oppenheimer from $37.00 to $43.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 9.72% from the company’s current price.

A number of other research firms also recently commented on KD. Bank of America assumed coverage on Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 target price for the company. Susquehanna increased their target price on Kyndryl from $33.00 to $40.00 and gave the company a “positive” rating in a research report on Friday, November 22nd.

Kyndryl Price Performance

KD stock traded up $1.23 during midday trading on Tuesday, hitting $39.19. The company’s stock had a trading volume of 1,944,473 shares, compared to its average volume of 2,459,283. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of -100.60, a price-to-earnings-growth ratio of 11.00 and a beta of 1.86. Kyndryl has a 12 month low of $19.24 and a 12 month high of $39.54. The company has a 50 day moving average of $36.28 and a two-hundred day moving average of $28.74.

Institutional Trading of Kyndryl

A number of hedge funds and other institutional investors have recently bought and sold shares of KD. FMR LLC increased 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 valued at $138,728,000 after buying an additional 1,569,260 shares during the period. Geode Capital Management LLC increased its stake in shares of Kyndryl by 1.7% during 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 period. Westfield Capital Management Co. LP increased its stake in shares of Kyndryl by 62.6% during 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 during the period. Zimmer Partners LP increased its stake in shares of Kyndryl by 1.9% during the third quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock valued at $62,595,000 after buying an additional 49,738 shares during the period. Finally, Royce & Associates LP boosted its position in Kyndryl by 9.6% during the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock valued at $60,744,000 after purchasing an additional 232,583 shares in 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.