Kodiak AI, Inc. (NASDAQ:KDK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Kodiak AI, Inc. (NASDAQ:KDK) has earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $12.60.

A number of analysts have recently weighed in on KDK shares. Chardan Capital lowered their target price on Kodiak AI from $22.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Citigroup lowered their target price on Kodiak AI from $13.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Northland Securities set a $11.00 price target on Kodiak AI in a report on Monday, May 11th. Wall Street Zen upgraded Kodiak AI from a “sell” rating to a “hold” rating in a report on Sunday. Finally, TD Cowen decreased their price target on Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, March 12th.

Kodiak AI Stock Performance

Shares of NASDAQ:KDK opened at $8.37 on Tuesday. Kodiak AI has a twelve month low of $5.43 and a twelve month high of $11.62. The firm has a market cap of $1.54 billion, a PE ratio of -9.20 and a beta of 0.40. The business has a fifty day moving average of $8.22 and a 200-day moving average of $8.42.

Hedge Funds Weigh In On Kodiak AI

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Kodiak AI by 502.2% in the first quarter. Royal Bank of Canada now owns 24,689 shares of the company’s stock valued at $171,000 after acquiring an additional 20,589 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Kodiak AI in the first quarter valued at about $125,000. Amova Asset Management Americas Inc. boosted its holdings in Kodiak AI by 112.5% in the first quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock valued at $11,628,000 after acquiring an additional 888,480 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Kodiak AI by 143.5% in the first quarter. Bank of New York Mellon Corp now owns 25,779 shares of the company’s stock valued at $179,000 after acquiring an additional 15,190 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings 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 valued at $11,645,000 after acquiring an additional 888,480 shares during the last quarter. Institutional investors 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.