Kodiak AI, Inc. (NASDAQ:KDK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Kodiak AI, Inc. (NASDAQ:KDK) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.00.

Several brokerages have issued reports on KDK. Citigroup reissued a “buy” rating on shares of Kodiak AI in a research note on Wednesday, August 19th. Northland Securities set a $11.00 target price on Kodiak AI in a research report on Monday, May 11th. Chardan Capital decreased their target price on Kodiak AI from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Weiss Ratings downgraded Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Finally, Wall Street Zen lowered Kodiak AI from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd.

Kodiak AI Price Performance

Kodiak AI stock opened at $3.57 on Thursday. Kodiak AI has a fifty-two week low of $3.48 and a fifty-two week high of $11.44. The firm’s 50 day simple moving average is $4.41 and its 200-day simple moving average is $6.61. The company has a market cap of $716.21 million, a P/E ratio of -0.76 and a beta of 0.42.

Kodiak AI (NASDAQ:KDK) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The company had revenue of $3.50 million for the quarter. On average, analysts expect that Kodiak AI will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Kodiak AI

A number of large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new stake in shares of Kodiak AI in the third quarter worth approximately $36,000. Parkside Financial Bank & Trust purchased a new position in Kodiak AI during the fourth quarter valued at approximately $44,000. Farther Finance Advisors LLC acquired a new position in Kodiak AI in the 4th quarter valued at approximately $78,000. The Manufacturers Life Insurance Company acquired a new position in Kodiak AI in the 2nd quarter valued at approximately $103,000. Finally, Cannon Global Investment Management LLC purchased a new stake in Kodiak AI in the 1st quarter worth approximately $119,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

About Kodiak AI

We are a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.