Kyndryl (NYSE:KD) Hits New 52-Week High – What’s Next?

Shares of Kyndryl Holdings, Inc. (NYSE:KD) reached a new 52-week high during trading on Wednesday . The stock traded as high as $34.43 and last traded at $34.35, with a volume of 71085 shares traded. The stock had previously closed at $34.31.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America began coverage on shares of Kyndryl in a research note on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price for the company. Susquehanna boosted their price objective on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, November 22nd. Finally, Oppenheimer boosted their price objective on shares of Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $33.00.

Kyndryl Trading Up 0.9 %

The stock has a market cap of $8.04 billion, a price-to-earnings ratio of -88.00, a price-to-earnings-growth ratio of 8.17 and a beta of 1.63. The firm’s 50 day moving average is $25.43 and its two-hundred day moving average is $25.35. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Synovus Financial Corp boosted its holdings in shares of Kyndryl by 11.5% in the third quarter. Synovus Financial Corp now owns 25,074 shares of the company’s stock valued at $576,000 after acquiring an additional 2,581 shares in the last quarter. Tidal Investments LLC lifted its stake in Kyndryl by 45.9% during the third quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock valued at $2,350,000 after purchasing an additional 32,173 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Kyndryl during the third quarter valued at approximately $171,000. Sanctuary Advisors LLC acquired a new stake in Kyndryl during the third quarter valued at approximately $237,000. Finally, Geode Capital Management LLC lifted its stake in Kyndryl by 1.7% during the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock valued at $88,908,000 after purchasing an additional 63,997 shares during the last quarter. 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.