Kingsoft Cloud Holdings Limited (NASDAQ:KC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $4.55.

Several analysts recently issued reports on the company. CLSA upgraded Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price target for the company in a report on Thursday, March 21st. Jefferies Financial Group increased their price target on Kingsoft Cloud from $3.40 to $3.80 and gave the company a “buy” rating in a report on Monday, March 25th. JPMorgan Chase & Co. upgraded Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a report on Monday, March 11th. Finally, Citigroup upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Thursday, March 21st.

Hedge Funds Weigh In On Kingsoft Cloud

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KC. Vanguard Group Inc. lifted its position in shares of Kingsoft Cloud by 2.1% during the third quarter. Vanguard Group Inc. now owns 3,776,286 shares of the company’s stock worth $7,515,000 after purchasing an additional 76,508 shares during the last quarter. BlackRock Inc. lifted its position in shares of Kingsoft Cloud by 35.9% during the first quarter. BlackRock Inc. now owns 3,483,442 shares of the company’s stock worth $21,147,000 after purchasing an additional 919,363 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Kingsoft Cloud by 6.5% during the fourth quarter. Marshall Wace LLP now owns 2,626,952 shares of the company’s stock worth $10,061,000 after purchasing an additional 160,264 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Kingsoft Cloud by 16.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,080,200 shares of the company’s stock worth $7,967,000 after purchasing an additional 289,800 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Kingsoft Cloud by 53.4% during the first quarter. State Street Corp now owns 1,752,811 shares of the company’s stock worth $10,640,000 after purchasing an additional 609,961 shares during the last quarter. 13.40% of the stock is owned by hedge funds and other institutional investors.

Kingsoft Cloud Stock Up 1.9 %

KC stock opened at $2.66 on Friday. The company has a market cap of $674.82 million, a price-to-earnings ratio of -2.06 and a beta of 2.13. The business has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $3.66. Kingsoft Cloud has a 52 week low of $2.34 and a 52 week high of $8.03.

Kingsoft Cloud (NASDAQ:KC) last released its quarterly earnings data on Wednesday, March 20th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The firm had revenue of $242.60 million for the quarter, compared to analyst estimates of $240.44 million. Kingsoft Cloud had a negative return on equity of 27.14% and a negative net margin of 30.81%. As a group, analysts expect that Kingsoft Cloud will post -0.45 earnings per share for the current fiscal year.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations 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, storage, and delivery solutions.