Kodiak AI (NASDAQ:KDK) Raised to Moderate Buy at Needham & Company LLC

Kodiak AI (NASDAQ:KDK) was upgraded by equities researchers at Needham & Company LLC to a “moderate buy” rating in a report issued on Wednesday, Zacks reports.

Other equities analysts have also issued reports about the stock. Oppenheimer assumed coverage on shares of Kodiak AI in a report on Tuesday, August 25th. They issued an “outperform” rating and a $9.00 price objective on the stock. Weiss Ratings lowered shares of Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Craig Hallum assumed coverage on shares of Kodiak AI in a research report on Monday, June 15th. They set a “buy” rating and a $12.00 target price for the company. Chardan Capital reissued a “buy” rating and issued a $12.00 price target on shares of Kodiak AI in a research note on Wednesday. Finally, Citigroup restated a “buy” rating on shares of Kodiak AI in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.12.

Kodiak AI Trading Down 0.8%

Shares of NASDAQ:KDK opened at $3.86 on Wednesday. Kodiak AI has a 1-year low of $3.48 and a 1-year high of $11.43. The stock has a market capitalization of $774.39 million, a P/E ratio of -0.82 and a beta of 0.42. The business has a 50-day moving average price of $4.27 and a two-hundred day moving average price of $6.43.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in Kodiak AI by 112.5% during 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 purchasing an additional 888,480 shares during the period. BlackRock Inc. acquired a new stake in Kodiak AI in the second quarter worth $9,073,000. Alyeska Investment Group L.P. bought a new position in shares of Kodiak AI during the second quarter worth $19,538,000. Amova Asset Management Americas Inc. boosted its position in shares of Kodiak AI by 112.5% during the first quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock worth $11,628,000 after purchasing an additional 888,480 shares in the last quarter. Finally, UBS Group AG grew 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 buying an additional 547,192 shares during the period. 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.