From “Nasdaq”:

Kyndryl, formerly known as IBM’s IT infrastructure-services division, spun out as an independent public company in 2021. The stock chart initially fell from $28.50 to $8.23 per share in less than a year with a market capitalization of $4.4 billion. Despite a rocky start, Kyndryl’s stock has mounted an 87% gain in 2023. Investors saw Kyndryl as a low-margin dead weight with limited growth prospects, best shrugged off and forgotten, leading to the initial decline. The company’s top-line sales have declined resulting in negative earnings. Management keeps raising their full-year estimates, with long-term guidance predicting adjusted earnings to turn positive in fiscal year 2025.

Kyndryl has found a promising niche in the IT industry. However, The Motley Fool Stock Advisor analyst team did not include Kyndryl among the 10 best stocks for investors to buy now. Therefore, investing in Kyndryl stock may not be the best option for everyone.



Read more: Is Kyndryl Worth Owning In 2024?