Kyndryl (NYSE:KD) Stock Price Expected to Rise, Oppenheimer Analyst Says

Kyndryl (NYSE:KD) had its price target upped by Oppenheimer from $33.00 to $37.00 in a report issued on Friday, Marketbeat reports. Oppenheimer currently has an outperform rating on the stock.

Separately, Bank of America assumed coverage on Kyndryl in a research note on Friday. They issued a “buy” rating and a $40.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $33.00.

Kyndryl Stock Up 2.6 %

Kyndryl stock opened at $33.92 on Friday. Kyndryl has a 1-year low of $17.64 and a 1-year high of $34.33. 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 has a market cap of $7.88 billion, a PE ratio of -86.28, a P/E/G ratio of 7.96 and a beta of 1.63. The stock’s fifty day moving average is $24.99 and its two-hundred day moving average is $25.24.

Hedge Funds Weigh In On Kyndryl

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Kyndryl in the 1st quarter valued at approximately $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Kyndryl during the 3rd quarter worth approximately $29,000. Headlands Technologies LLC boosted its stake in shares of Kyndryl by 60.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock worth $39,000 after acquiring an additional 554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Kyndryl during the 2nd quarter worth approximately $39,000. Finally, UMB Bank n.a. raised its position in shares of Kyndryl by 44.2% during 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 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.