Kingsoft Cloud (NASDAQ:KC) Issues Earnings Results

Kingsoft Cloud (NASDAQ:KC) announced its quarterly earnings results on Wednesday. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06, Briefing.com reports. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. The firm’s revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share.

Kingsoft Cloud Stock Performance

Kingsoft Cloud stock opened at $16.48 on Friday. Kingsoft Cloud has a 12-month low of $2.02 and a 12-month high of $22.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of -13.73 and a beta of 2.23. The firm’s fifty day moving average price is $15.39 and its 200 day moving average price is $8.84.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KC shares. Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.20 to $12.50 in a research note on Friday, December 6th. Finally, Nomura Securities cut shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.