Kingsoft Cloud (NASDAQ:KC) Posts Earnings Results, Beats Expectations By $0.06 EPS

Kingsoft Cloud (NASDAQ:KC) announced its quarterly earnings results on Wednesday. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06, Briefing.com reports. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share.

Kingsoft Cloud Price Performance

Shares of NASDAQ:KC opened at $18.44 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. Kingsoft Cloud has a 1-year low of $2.02 and a 1-year high of $22.26. The company has a market capitalization of $4.68 billion, a P/E ratio of -15.37 and a beta of 2.23. The firm’s 50 day simple moving average is $15.27 and its two-hundred day simple moving average is $8.79.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Nomura Securities downgraded shares of Kingsoft Cloud from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura downgraded shares of Kingsoft Cloud from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.93.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily 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, network, database, big data, security, storage, and delivery solutions.