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

Kingsoft Cloud Holdings Limited (NASDAQ:KC) has received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.55.

A number of research firms have commented on KC. Citigroup upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Thursday, March 21st. Jefferies Financial Group boosted their price target on shares of Kingsoft Cloud from $3.40 to $3.80 and gave the company a “buy” rating in a research report on Monday, March 25th. JPMorgan Chase & Co. upgraded shares of Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a research report on Monday, March 11th. Finally, CLSA upgraded shares of Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price target on the stock in a research report on Thursday, March 21st.

Kingsoft Cloud Stock Performance

Shares of Kingsoft Cloud stock opened at $2.66 on Friday. The firm’s 50-day simple moving average is $2.96 and its 200-day simple moving average is $3.66. Kingsoft Cloud has a twelve month low of $2.34 and a twelve month high of $8.03. The firm has a market cap of $674.82 million, a P/E ratio of -2.06 and a beta of 2.13.

Kingsoft Cloud (NASDAQ:KC) last issued its earnings results on Wednesday, March 20th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Kingsoft Cloud had a negative net margin of 30.81% and a negative return on equity of 27.14%. The business had revenue of $242.60 million for the quarter, compared to analyst estimates of $240.44 million. On average, equities analysts forecast that Kingsoft Cloud will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kingsoft Cloud

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its stake in shares of Kingsoft Cloud by 98.6% during the third quarter. Rhumbline Advisers now owns 5,600 shares of the company’s stock worth $28,000 after buying an additional 2,780 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Kingsoft Cloud by 220.6% during the first quarter. PNC Financial Services Group Inc. now owns 4,941 shares of the company’s stock worth $30,000 after buying an additional 3,400 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Kingsoft Cloud by 310.2% during the third quarter. Tower Research Capital LLC TRC now owns 22,112 shares of the company’s stock worth $44,000 after buying an additional 16,721 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Kingsoft Cloud by 101.6% during the second quarter. Royal Bank of Canada now owns 7,938 shares of the company’s stock worth $48,000 after buying an additional 4,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Kingsoft Cloud during the third quarter worth approximately $53,000. 13.40% of the stock is owned by institutional investors.

About Kingsoft Cloud

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.