Kyndryl (NYSE:KD) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Kyndryl (NYSE:KD) issued its quarterly earnings data on Tuesday. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.11, Briefing.com reports. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.76 billion. Kyndryl had a negative net margin of 6.27% and a negative return on equity of 7.39%. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) EPS.

Kyndryl Price Performance

KD traded up $0.75 during midday trading on Friday, reaching $27.13. 1,117,041 shares of the company’s stock were exchanged, compared to its average volume of 1,632,239. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $6.24 billion, a PE ratio of -5.82, a P/E/G ratio of 5.79 and a beta of 1.57. The business’s 50-day moving average price is $21.37 and its 200 day moving average price is $20.00. Kyndryl has a 1-year low of $11.35 and a 1-year high of $27.20.

Analysts Set New Price Targets

Separately, Susquehanna increased their price objective on shares of Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday.

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.