JPMorgan Chase & Co. has downgraded Kyndryl (NYSE:KD) from “overweight” to “underweight,” setting a $16 price target. This downgrade follows Kyndryl missing its Q3 earnings and revenue estimates, cutting its FY-2026 revenue guidance, and delaying its 10-Q filing due to material weaknesses in financial controls, compounded by the departure of its CFO amidst an accounting review. The stock plunged by approximately 53.2% to $10.99 on heavy trading volume due to these negative developments.
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Kyndryl (NYSE:KD) Stock Rating Lowered by JPMorgan Chase & Co.
JPMorgan Chase & Co. has downgraded Kyndryl (NYSE:KD) from “overweight” to “underweight,” setting a $16 price target. This downgrade follows Kyndryl missing its Q3 earnings and revenue estimates, cutting its FY-2026 revenue guidance, and delaying its 10-Q filing due to material weaknesses in financial controls, compounded by the departure of its CFO amidst an accounting review. The stock plunged by approximately 53.2% to $10.99 on heavy trading volume due to these negative developments.