Kingsoft Cloud (NASDAQ:KC) Raised to “Buy” at Nomura

Kingsoft Cloud (NASDAQ:KC) was upgraded by investment analysts at Nomura from a “neutral” rating to a “buy” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $18.30 price objective on the stock. Nomura’s price target would suggest a potential upside of 19.98% from the company’s previous close.

Separately, Nomura Securities lowered Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Kingsoft Cloud Price Performance

Shares of Kingsoft Cloud stock opened at $15.25 on Monday. The firm has a fifty day moving average price of $14.52 and a two-hundred day moving average price of $11.44. Kingsoft Cloud has a fifty-two week low of $2.02 and a fifty-two week 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 cap of $4.13 billion, a PE ratio of -12.71 and a beta of 2.24.

Kingsoft Cloud (NASDAQ:KC) last released its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The firm’s revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. Analysts expect that Kingsoft Cloud will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA bought a new stake in shares of Kingsoft Cloud in the 1st quarter valued at approximately $65,000. Marshall Wace LLP acquired a new stake in Kingsoft Cloud in the 4th quarter valued at $119,000. Vise Technologies Inc. bought a new stake in Kingsoft Cloud in the fourth quarter valued at $125,000. Cetera Investment Advisers acquired a new position in Kingsoft Cloud during the fourth quarter worth $138,000. Finally, Personal CFO Solutions LLC bought a new position in shares of Kingsoft Cloud during the first quarter valued at $176,000. Institutional investors own 13.40% of the company’s stock.

Kingsoft Cloud Company Profile

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.