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

Kyndryl (NYSE:KD) had its price objective upped by Susquehanna from $40.00 to $46.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s target price indicates a potential upside of 8.50% from the stock’s previous close.

A number of other analysts have also issued reports on KD. Bank of America initiated coverage on shares of Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price target for the company. Oppenheimer raised their price target on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday.

Kyndryl Price Performance

NYSE KD traded up $2.48 on Wednesday, reaching $42.40. The company’s stock had a trading volume of 2,488,579 shares, compared to its average volume of 2,563,617. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $9.85 billion, a PE ratio of -108.59, a PEG ratio of 11.00 and a beta of 1.86. The firm’s 50 day moving average is $36.40 and its two-hundred day moving average is $28.83. Kyndryl has a twelve month low of $19.24 and a twelve month high of $42.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new position in shares of Kyndryl during the third quarter valued at about $29,000. UMB Bank n.a. grew its position in Kyndryl by 44.2% in the 3rd quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock worth $35,000 after purchasing an additional 462 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Kyndryl by 33.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock valued at $44,000 after buying an additional 422 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Kyndryl by 27.5% during the 4th quarter. Fifth Third Bancorp now owns 2,299 shares of the company’s stock worth $80,000 after buying an additional 496 shares in the last quarter. Finally, Trust Co. of Vermont grew its holdings in shares of Kyndryl by 15.2% in the third quarter. Trust Co. of Vermont now owns 3,513 shares of the company’s stock valued at $81,000 after acquiring an additional 464 shares in the last quarter. Institutional investors and hedge funds 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.