Kingsoft Cloud downgraded by JP Morgan with a new price target
$KC
Computer Software: Prepackaged Software
Technology
JP Morgan downgraded Kingsoft Cloud from Neutral to Underweight and set a new price target of $3.50
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/21/2024 | $5.00 | Neutral → Buy | Citigroup |
| 3/21/2024 | $4.40 | Underperform → Outperform | CLSA |
| 3/11/2024 | Neutral → Overweight | JP Morgan | |
| 6/1/2023 | $4.50 | Sell → Neutral | Goldman |
| 4/24/2023 | $4.00 → $5.09 | Neutral → Sell | Goldman |
| 9/7/2022 | $8.50 → $3.00 | Buy → Neutral | Citigroup |
| 4/11/2022 | $9.50 | Neutral | Goldman |
| 3/14/2022 | $3.50 | Neutral → Underweight | JP Morgan |
6-K - Kingsoft Cloud Holdings Ltd (0001795589) (Filer)
6-K - Kingsoft Cloud Holdings Ltd (0001795589) (Filer)
6-K - Kingsoft Cloud Holdings Ltd (0001795589) (Filer)
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Kingsoft Cloud Holdings Ltd (NASDAQ:KC) reported a fiscal first-quarter 2024 revenue of 1.78 billion Chinese yuan ($245.9 million), down by 4.8% year-on-year, missing the analyst consensus estimate of $248.3 million. The decrease was in line with its expectation along with its scaling down of content delivery network (CDN) services, and more stringent project selection of enterprise cloud projects. Adjusted loss per ADS was $0.12, beating the analyst consensus estimate of $0.14 loss. Revenues from public cloud services increased by 2.9% Y/Y to $164.4 million mainly due to the growth of AI demands. Revenues from enterprise cloud services were $81.5 million, a decrease of 17.2% Y
BEIJING, Dec. 29, 2022 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited ("we," "Kingsoft Cloud" or the "Company") (NASDAQ:KC), a leading independent cloud service provider in China, today announced that the shareholders of the Company duly adopted all the resolutions proposed by the Company at its extraordinary general meeting of shareholders held in Beijing today, with high approval rate, paving way to Company's proposed listing on Main Board of The Stock Exchange of Hong Kong Limited. Earlier on December 23, 2022, the Company announced the proposed dual primary listing of its ordinary shares, par value US$0.001 per share by way of introduction on the Main Board of The Stock Exchange
BEIJING, April 14, 2022 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited ("we," "Kingsoft Cloud" or the "Company") (NASDAQ:KC), a leading independent cloud service provider in China, today announced the appointment of Ms. Jingyuan Qu as an independent director of its board of directors (the "Board"), effective immediately, based on the recommendations of the nominating and corporate governance committee of the Board. The Board also appointed Ms. Qu as a member of the audit committee, the compensation committee, and the nominating and corporate governance committee, effective immediately. Ms. Qu will replace Mr. Kuiguang Niu who has resigned from his position as a member of the Board and
BEIJING, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited ("Kingsoft Cloud" or the "Company") (NASDAQ:KC), a leading cloud service provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2024. Financial Highlights Total Revenues reached RMB1,885.6 million (US$268.71 million), increased by 16.0% year-over-year from RMB1,625.2 million in the same quarter of 2023. The accelerated growth of high-quality business, such as AI, has offset the decline in the low-margin CDN business due to strategic proactive adjustments.Gross profit was RMB303.4 million (US$43.2 million), representing a significant increase of 54.6% from R
BEIJING, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited (NASDAQ:KC) ("Kingsoft Cloud" or the "Company"), a leading cloud service provider in China, today announced that it will release its unaudited financial results for the third quarter 2024 ended September 30, 2024 before the open of U.S. markets on Tuesday, November 19, 2024. Kingsoft Cloud's management will host an earnings conference call on Tuesday, November 19, 2024 at 7:15 am, U.S. Eastern Time (8:15 pm, Beijing/Hong Kong Time on the same day). Preregistration InformationParticipants can register for the conference call by navigating to https://register.vevent.com/register/BI9c3a629d6e164637ab8af374255609ee O
BEIJING, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited ("Kingsoft Cloud" or the "Company") (NASDAQ:KC), a leading independent cloud service provider in China, today announced its unaudited financial results for the second quarter ended June 30, 2024. Mr. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, "We are pleased to record another strong quarter with advances in revenue expansion, margin improvements and operating cash net inflow. Our high-quality and sustainable development strategy continued to bear fruits. During the past quarter, embracing AI opportunities, we have recorded AI revenue of RMB326 million, approximately 26% of revenues from public
SC 13G - Kingsoft Cloud Holdings Ltd (0001795589) (Subject)
SC 13G/A - Kingsoft Cloud Holdings Ltd (0001795589) (Subject)
SC 13G/A - Kingsoft Cloud Holdings Ltd (0001795589) (Subject)
Citigroup upgraded Kingsoft Cloud from Neutral to Buy and set a new price target of $5.00
CLSA upgraded Kingsoft Cloud from Underperform to Outperform and set a new price target of $4.40
JP Morgan upgraded Kingsoft Cloud from Neutral to Overweight
BEIJING, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited ("Kingsoft Cloud" or the "Company") (NASDAQ:KC), a leading cloud service provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2024. Financial Highlights Total Revenues reached RMB1,885.6 million (US$268.71 million), increased by 16.0% year-over-year from RMB1,625.2 million in the same quarter of 2023. The accelerated growth of high-quality business, such as AI, has offset the decline in the low-margin CDN business due to strategic proactive adjustments.Gross profit was RMB303.4 million (US$43.2 million), representing a significant increase of 54.6% from R
BEIJING, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited (NASDAQ:KC) ("Kingsoft Cloud" or the "Company"), a leading cloud service provider in China, today announced that it will release its unaudited financial results for the third quarter 2024 ended September 30, 2024 before the open of U.S. markets on Tuesday, November 19, 2024. Kingsoft Cloud's management will host an earnings conference call on Tuesday, November 19, 2024 at 7:15 am, U.S. Eastern Time (8:15 pm, Beijing/Hong Kong Time on the same day). Preregistration InformationParticipants can register for the conference call by navigating to https://register.vevent.com/register/BI9c3a629d6e164637ab8af374255609ee O
BEIJING, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited ("Kingsoft Cloud" or the "Company") (NASDAQ:KC), a leading independent cloud service provider in China, today announced its unaudited financial results for the second quarter ended June 30, 2024. Mr. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, "We are pleased to record another strong quarter with advances in revenue expansion, margin improvements and operating cash net inflow. Our high-quality and sustainable development strategy continued to bear fruits. During the past quarter, embracing AI opportunities, we have recorded AI revenue of RMB326 million, approximately 26% of revenues from public