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

Kyndryl (NYSE:KD) had its target price boosted by Susquehanna from $33.00 to $40.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a positive rating on the stock.

Other analysts have also recently issued reports about the company. Oppenheimer lifted their price target on Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America started coverage on shares of Kyndryl in a research report on Friday. They set a “buy” rating and a $40.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Kyndryl presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Kyndryl Stock Performance

Kyndryl stock opened at $33.04 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. Kyndryl has a 52 week low of $17.64 and a 52 week high of $33.62. The stock has a 50-day simple moving average of $24.78 and a 200 day simple moving average of $25.14.

Institutional Investors Weigh In On Kyndryl

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its position 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. Westfield Capital Management Co. LP raised its position 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 buying an additional 1,254,208 shares in the last quarter. Cinctive Capital Management LP purchased a new position in shares of Kyndryl during the 3rd quarter valued at about $20,213,000. Great Lakes Advisors LLC bought a new position in shares of Kyndryl during the 2nd quarter valued at $19,996,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Kyndryl by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock valued at $72,768,000 after acquiring an additional 675,800 shares during the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

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.