Kodiak AI (NASDAQ:KDK) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Kodiak AI (NASDAQ:KDK) in a report released on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $8.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Craig Hallum initiated coverage on shares of Kodiak AI in a report on Monday, June 15th. They set a “buy” rating and a $12.00 price target on the stock. Wall Street Zen lowered shares of Kodiak AI from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Citigroup restated a “buy” rating on shares of Kodiak AI in a research report on Wednesday, August 19th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $12.00 target price on shares of Kodiak AI in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.12.

Kodiak AI Price Performance

NASDAQ:KDK opened at $3.86 on Wednesday. The firm has a market capitalization of $774.39 million, a price-to-earnings ratio of -0.82 and a beta of 0.42. The business has a 50 day simple moving average of $4.27 and a 200-day simple moving average of $6.43. Kodiak AI has a 1 year low of $3.48 and a 1 year high of $11.43.

Kodiak AI (NASDAQ:KDK) last released its earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The firm had revenue of $3.50 million during the quarter. As a group, analysts expect that Kodiak AI will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in Kodiak AI by 112.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company’s stock worth $11,645,000 after acquiring an additional 888,480 shares during the period. BlackRock Inc. bought a new position in Kodiak AI during the 2nd quarter worth about $9,073,000. Alyeska Investment Group L.P. purchased a new position in Kodiak AI during the 2nd quarter valued at about $19,538,000. Amova Asset Management Americas Inc. raised its holdings in shares of Kodiak AI by 112.5% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock valued at $11,628,000 after purchasing an additional 888,480 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Kodiak AI by 353.3% in the 4th quarter. UBS Group AG now owns 702,058 shares of the company’s stock valued at $7,666,000 after purchasing an additional 547,192 shares in the last quarter. 72.95% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak AI Company Profile

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.