Susquehanna Forecasts Strong Price Appreciation for Kyndryl (NYSE:KD) Stock

Kyndryl (NYSE:KD) had its price objective raised by investment analysts at Susquehanna from $40.00 to $46.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 8.50% from the company’s current price.

KD has been the subject of a number of other research reports. Oppenheimer increased their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday. Bank of America initiated coverage on shares of Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective on the stock.

Kyndryl Price Performance

Shares of Kyndryl stock traded up $2.48 during trading on Wednesday, hitting $42.40. 2,488,579 shares of the stock traded hands, compared to its average volume of 2,563,617. The firm’s fifty day moving average is $36.40 and its 200-day moving average is $28.83. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of -108.59, a PEG ratio of 11.00 and a beta of 1.86. Kyndryl has a 52 week low of $19.24 and a 52 week high of $42.57. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65.

Hedge Funds Weigh In On Kyndryl

A number of hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in Kyndryl by 35.1% in the 3rd 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 during the period. Westfield Capital Management Co. LP grew its stake in shares of Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after acquiring an additional 1,254,208 shares during the period. Cinctive Capital Management LP purchased a new position in Kyndryl during the third quarter valued at approximately $20,213,000. Cortland Associates Inc. MO boosted its position in shares of Kyndryl by 35.7% in the third quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock worth $49,421,000 after purchasing an additional 565,263 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Kyndryl by 166.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock valued at $19,284,000 after purchasing an additional 524,168 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

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.