Streetbeat News

Kingsoft Cloud Holdings Limited

https://www.ksyun.com

Industry

Software - Application

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company offers public cloud services to customers in various verticals, including game, video, AI, e-commerce, education, and mobile internet; and enterprise cloud services to customers in financial service, public service, and healthcare businesses. The company was incorporated in 2012 and is headquartered in Beijing, the People's Republic of China.

Open

4.03

Mkt cap

938M

Volume

2.1M

High

4.17

P/E Ratio

-3.90

52-wk high

5.80

Low

3.89

Div yield

N/A

52-wk low

2.02

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Portfolio Pulse from Avi Kapoor

March 22, 2024 | 6:39 pm

Four analysts have recently updated their ratings on Kingsoft Cloud Holdings (NASDAQ:KC), showing a mix of bullish and somewhat bullish sentiments. The average 12-month price target is now $4.25, down from $5.30, indicating a 19.81% decrease. Analysts from CLSA, Citigroup, Jefferies, and JP Morgan have adjusted their price targets and ratings, reflecting changes in market dynamics and company performance. Kingsoft Cloud Holdings, a cloud service provider in China, faces challenges with revenue growth, net margin, ROE, and ROA, but has a healthy debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 3:00 pm

CLSA analyst Wenting Yu upgrades Kingsoft Cloud Holdings (KC) from Underperform to Outperform with a new price target of $4.4.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:34 am

Citigroup analyst Brian Gong upgraded Kingsoft Cloud Holdings (NASDAQ:KC) from Neutral to Buy and set a price target of $5. This upgrade reflects a positive outlook on the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:28 am

Sportradar Group AG (NASDAQ:SRAD) reported better-than-expected Q4 results, with earnings of 8 cents per share against estimates of 4 cents, and sales of $271.88 million versus expectations of $271.46 million. The company also announced a $200 million share repurchase program, leading to a 10.7% rise in its shares. Other stocks like Annovis Bio, Taysha Gene Therapies, and Kingsoft Cloud also saw significant gains due to various positive developments.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 3:41 pm

Kingsoft Cloud Holdings Ltd (NASDAQ:KC) reported Q4 fiscal 2023 revenue of $242.6 million, slightly above consensus, with a 19.2% Y/Y decrease. Adjusted EPS was $(0.05), better than expected. The stock surged 18.80% to $3.82. Revenue decline was attributed to scaling down CDN services and phasing out loss-making clients. Adjusted gross profit rose significantly due to strategic adjustments and cost control. The company is focusing on AI cloud computing, contributing to 8% of public cloud revenues. Investors can also gain exposure through Direxion Work From Home ETF (NYSE:WFH) and iShares MSCI China Small-Cap ETF (NYSE:ECNS).

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 2:50 pm

In Wednesday's pre-market session, 12 Information Technology stocks showed significant movements. Notably, Oblong (OBLG) surged 77.9%, while Verb Tech (VERB) dropped 15.9%. Kingsoft Cloud Holdings (KC) and JinkoSolar Holding Co (JKS) released their Q4 earnings, influencing their stock prices.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 1:05 pm

Kingsoft Cloud Holdings' shares surged following the announcement of their Q4 results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:51 pm

Kingsoft Cloud Holdings (NASDAQ:KC) reported Q4 sales of $242.60M, slightly above the $242.39M estimate, marking a 0.09% beat. However, this represents a 21.48% decrease from the previous year's sales of $308.97M. The company also reported an adjusted net loss of $35.27M.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:41 pm

Numerous companies are scheduled to report their quarterly earnings on March 20, 2024, with expectations ranging from significant profits to losses. Notable mentions include BioNTech with projected earnings of $2.64 per share, PDD Holdings expecting $1.60 per share, and Micron Technology anticipated to report a loss of $0.26 per share. The diversity in performance across sectors highlights the varied economic landscape.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 9:32 am

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