J.P. Morgan Sticks to Their Buy Rating for Kingsoft Cloud Holdings (KC)

J.P. Morgan analyst Alex Yao maintained a Buy rating on Kingsoft Cloud Holdings yesterday and set a price target of $19.00. The company’s shares closed last Friday at $14.77.

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According to TipRanks, Yao is a 4-star analyst with an average return of 8.2% and a 52.57% success rate. Yao covers the Communication Services sector, focusing on stocks such as Tencent Holdings , Baidu, and AutoHome.

In addition to J.P. Morgan, Kingsoft Cloud Holdings also received a Buy from Jefferies’s Thomas Chong in a report issued on August 21. However, on August 20, TR | OpenAI – 4o reiterated a Hold rating on Kingsoft Cloud Holdings (NASDAQ: KC).

Based on Kingsoft Cloud Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.97 billion and a GAAP net loss of $313.93 million. In comparison, last year the company earned a revenue of $1.78 billion and had a GAAP net loss of $359.41 million