Goldman slashes price target on Kingsoft Cloud Holdings Limited [KC] – find out why.


Kingsoft Cloud Holdings Limited [NASDAQ: KC] closed the trading session at $5.54 on 06/08/22. The day’s price range saw the stock hit a low of $5.21, while the highest price level was $5.90. The company report on June 8, 2022 that Kingsoft Cloud Announces Unaudited First Quarter 2022 Financial Results.

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Kingsoft Cloud Holdings Limited (“Kingsoft Cloud” or the “Company”) (NASDAQ: KC), a leading independent cloud service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2022.

Mr. Yulin Wang, Chief Executive Officer of Kingsoft Cloud, commented, “Despite the rising uncertainty in the macro-environment and recent pandemic resurgence in China, we adhered to our strategy of pursuing steady and high-quality growth while improving our business stability and profitability. We are pleased to deliver another quarter of solid performance, with revenue up 20% year-over-year and adjusted gross profit increased by 152% quarter-over-quarter to RMB83.6 million. These results further testify to the resilience of our business, our execution capabilities, and the effectiveness of our strategies. During the quarter we continued to deepen our relationships with premium customers and have made excellent progress signing new customers. Specifically, we signed Genki Forest (元气森林), one of the fastest-growing beverage brand in China, and two new commercial bank clients. Looking ahead, while uncertainty remains in the outlook, we will continue to focus on our core cloud services, create value for our customers, and facilitate the digitalization of our expanding customer base.”.

The stocks have a year to date performance of -64.83 percent and weekly performance of 21.49 percent. The stock has been moved at -66.14 percent over the last six months. The stock has performed 82.84 percent around the most recent 30 days and changed -7.82 percent over the most recent 3-months.

If compared to the average trading volume of 6.96M shares, KC reached to a volume of 7329402 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Kingsoft Cloud Holdings Limited [KC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KC shares is $15.95 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KC stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Kingsoft Cloud Holdings Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 11, 2022. The new note on the price target was released on March 14, 2022, representing the official price target for Kingsoft Cloud Holdings Limited stock. On January 03, 2022, analysts decreased their price target for KC shares from 37 to 18.

The Average True Range (ATR) for Kingsoft Cloud Holdings Limited is set at 0.51, with the Price to Sales ratio for KC stock in the period of the last 12 months amounting to 1.05. The Price to Book ratio for the last quarter was 0.84, with the Price to Cash per share for the same quarter was set at 3.90.

KC stock trade performance evaluation

Kingsoft Cloud Holdings Limited [KC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.49. With this latest performance, KC shares gained by 82.84% in over the last four-week period, additionally sinking by -66.14% over the last 6 months – not to mention a drop of -86.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KC stock in for the last two-week period is set at 66.43, with the RSI for the last a single of trading hit 73.83, and the three-weeks RSI is set at 59.85 for Kingsoft Cloud Holdings Limited [KC]. The present Moving Average for the last 50 days of trading for this stock 4.32, while it was recorded at 4.91 for the last single week of trading, and 14.59 for the last 200 days.

Kingsoft Cloud Holdings Limited [KC]: An insightful look at the core fundamentals

Kingsoft Cloud Holdings Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

Kingsoft Cloud Holdings Limited [KC]: Insider Ownership positions

Positions in Kingsoft Cloud Holdings Limited stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 85 institutional holders increased their position in Kingsoft Cloud Holdings Limited [NASDAQ:KC] by around 18,578,488 shares. Additionally, 46 investors decreased positions by around 31,512,053 shares, while 19 investors held positions by with 18,599,183 shares. The mentioned changes placed institutional holdings at 68,689,724 shares, according to the latest SEC report filing. KC stock had 24 new institutional investments in for a total of 4,445,116 shares, while 24 institutional investors sold positions of 5,876,887 shares during the same period.