Kingsoft Cloud (KC) to Release Earnings on Tuesday

Posted by Defense World Staff on Aug 15th, 2023

Kingsoft Cloud (NASDAQ:KC – Get Free Report) is set to announce its earnings results before the market opens on Tuesday, August 22nd. Analysts expect the company to announce earnings of ($0.12) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Kingsoft Cloud (NASDAQ:KC – Get Free Report) last released its quarterly earnings results on Tuesday, May 23rd. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The firm had revenue of $271.48 million for the quarter, compared to the consensus estimate of $280.77 million. Kingsoft Cloud had a negative return on equity of 27.41% and a negative net margin of 34.47%. On average, analysts expect Kingsoft Cloud to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Kingsoft Cloud Price Performance

Shares of Kingsoft Cloud stock opened at $5.62 on Tuesday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -3.56 and a beta of 2.37. Kingsoft Cloud has a twelve month low of $1.77 and a twelve month high of $10.13. The company’s fifty day moving average is $6.13 and its 200 day moving average is $5.69.

Institutional Investors Weigh In On Kingsoft Cloud

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings 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 purchasing an additional 3,400 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Kingsoft Cloud by 310.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 22,112 shares of the company’s stock worth $44,000 after purchasing an additional 16,721 shares during the period. BNP Paribas Arbitrage SNC bought a new stake in shares of Kingsoft Cloud during the 3rd quarter valued at about $61,000. GSA Capital Partners LLP purchased a new position in shares of Kingsoft Cloud during the fourth quarter valued at about $65,000. Finally, Engineers Gate Manager LP bought a new position in Kingsoft Cloud in the first quarter worth about $67,000. 18.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group upgraded Kingsoft Cloud from a “sell” rating to a “neutral” rating and set a $4.50 price target on the stock in a report on Thursday, June 1st. Bank of America started coverage on shares of Kingsoft Cloud in a report on Friday, July 7th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.75.

Check Out Our Latest Stock Report on KC

Kingsoft Cloud Company Profile

(Get Free Report)

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.