Kyndryl (NYSE:KD) Reaches New 1-Year High – Should You Buy?

Kyndryl Holdings, Inc. (NYSE:KD) hit a new 52-week high during trading on Friday . The company traded as high as $37.34 and last traded at $36.61, with a volume of 580262 shares changing hands. The stock had previously closed at $35.52.

Wall Street Analysts Forecast Growth

KD has been the subject of a number of recent research reports. Oppenheimer raised their price target on shares of Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Bank of America started coverage on shares of Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 target price for the company. Finally, Susquehanna boosted their target price on shares of Kyndryl from $33.00 to $40.00 and gave the company a “positive” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $34.60.

Kyndryl Price Performance

The stock has a market capitalization of $8.56 billion, a PE ratio of -94.51, a P/E/G ratio of 8.51 and a beta of 1.86. 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 stock’s fifty day moving average is $31.36 and its 200-day moving average is $26.88.

Institutional Trading of Kyndryl

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in Kyndryl during the second quarter valued at $49,000. Rothschild Investment LLC acquired a new stake in Kyndryl in the 2nd quarter worth about $85,000. Natixis Advisors LLC increased its stake in Kyndryl by 7.2% during the 2nd quarter. Natixis Advisors LLC now owns 56,110 shares of the company’s stock worth $1,476,000 after buying an additional 3,769 shares in the last quarter. Financial Counselors Inc. acquired a new position in shares of Kyndryl during the second quarter valued at approximately $243,000. Finally, Versor Investments LP lifted its position in shares of Kyndryl by 80.2% in the second quarter. Versor Investments LP now owns 21,085 shares of the company’s stock valued at $555,000 after acquiring an additional 9,385 shares in the last quarter. 71.53% of the stock is 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.