In the last trading session, 2.51 million Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares changed hands as the company’s beta touched 2.41. With the company’s per share price at $4.97 changed hands at -$0.09 or -1.78% during last session, the market valuation stood at $1.19B. KC’s last price was a discount, traded about -103.82% off its 52-week high of $10.13. The share price had its 52-week low at $1.77, which suggests the last value was 64.39% up since then. When we look at Kingsoft Cloud Holdings Limited’s average trading volume, we note the 10-day average is 1.02 million shares, with the 3-month average coming to 1.90 million.
Analysts gave the Kingsoft Cloud Holdings Limited (KC) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.80. If we narrow down to specifics, the data shows that 1 out of 10 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 4 recommended KC as a Hold, 2 felt it is a Buy and 1 rated the stock as Underweight. Kingsoft Cloud Holdings Limited’s EPS for the current quarter is expected to be -$0.17.
Kingsoft Cloud Holdings Limited (NASDAQ:KC) trade information
Instantly KC was in red as seen at the end of in last trading. With action -3.12%, the performance over the past five days has been red. The drop to weekly highs of 5.28 on Friday, 09/15/23 subtracted -1.78% to the stock’s daily price. The company’s shares are showing year-to-date upside of 29.77%, with the 5-day performance at -3.12% in the red. However, in the 30-day time frame, Kingsoft Cloud Holdings Limited (NASDAQ:KC) is -5.69% down. Looking at the short shares, we see there were 9.34 million shares sold at short interest cover period of 6.22 days.
The consensus price target for the stock as assigned by Wall Street analysts is $39.66, meaning bulls need an upside of 87.47% from its current market value. According to analyst projections, KC’s forecast low is $14.22 with $50.30 as the target high. To hit the forecast high, the stock’s price needs a -912.07% plunge from its current level, while the stock would need to soar -186.12% for it to hit the projected low.
Kingsoft Cloud Holdings Limited (KC) estimates and forecasts
Data shows that the Kingsoft Cloud Holdings Limited share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -5.15% over the past 6 months, a 33.05% in annual growth rate that is considerably higher than the industry average of 22.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Kingsoft Cloud Holdings Limited will rise 41.40%, while the growth in revenue is estimated to hit 50.00% for the next quarter. Year-over-year growth is forecast to reach -10.40% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $246.28 million. 3 analysts are of the opinion that Kingsoft Cloud Holdings Limited’s revenue for the quarter ending Dec 2023 will be $271.53 million. The company’s revenue for the corresponding quarters a year ago was $290.18 million and $296.78 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -15.10%. The estimates for the next quarter sales put growth at -8.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -10.80%. The 2023 estimates are for Kingsoft Cloud Holdings Limited earnings to decrease by -58.90%.
Kingsoft Cloud Holdings Limited is expected to release its next quarterly earnings report in October.
Kingsoft Cloud Holdings Limited (NASDAQ:KC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.00% of Kingsoft Cloud Holdings Limited shares while 21.60% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 21.60%. There are 21.60% institutions holding the Kingsoft Cloud Holdings Limited stock share, with Canada Pension Plan Investment Board the top institutional holder. As of Jun 29, 2023, the company held 8.69% of the shares, roughly 22.04 million KC shares worth $134.45 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 1.53% or 3.89 million shares worth $23.73 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of May 30, 2023 were MFS Series Trust X-MFS Emerging Markets Equity Fund and Vanguard International Stock Index-Emerging Markets Stk. With 2.94 million shares estimated at $13.09 million under it, the former controlled 1.16% of total outstanding shares. On the other hand, Vanguard International Stock Index-Emerging Markets Stk held about 0.57% of the shares, roughly 1.43 million shares worth around $8.22 million.