Yahoo Finance Tech·1 min read
Jefferies Raises its Price Target on Kingsoft Cloud Holdings (KC) to $19
Jefferies raises price target for Kingsoft Cloud to $19.
Jefferies has raised its price target for Kingsoft Cloud Holdings Limited (NASDAQ:KC) to $19, citing strong fourth-quarter results that exceeded expectations. Analyst Thomas Chong noted that the company's revenue and non-GAAP EBITDA were robust, driven by a significant 95% year-over-year growth in AI-related gross billing, positioning Kingsoft Cloud to capitalize on increasing AI consumption.
Key Takeaways
- 1.
Kingsoft Cloud's Q4 revenue reached RMB2.761B, up from RMB2.232B last year.
- 2.
AI-related gross billing for Kingsoft Cloud grew 95% year over year.
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