Brokerages Set Kodiak AI, Inc. (NASDAQ:KDK) Target Price at $10.89

Kodiak AI, Inc. (NASDAQ:KDK) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.8889.

Several equities research analysts have recently issued reports on KDK shares. Morgan Stanley assumed coverage on shares of Kodiak AI in a research note on Friday, September 11th. They issued an “equal weight” rating and a $9.00 price objective on the stock. Weiss Ratings cut shares of Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Zacks Research downgraded shares of Kodiak AI from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. Oppenheimer began coverage on shares of Kodiak AI in a report on Tuesday, August 25th. They set an “outperform” rating and a $9.00 price objective on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of Kodiak AI in a research report on Wednesday, August 19th.

Institutional Trading of Kodiak AI

Institutional investors and hedge funds have recently modified their holdings of the company. Alyeska Investment Group L.P. bought a new position in shares of Kodiak AI during the 2nd quarter worth approximately $19,538,000. Sumitomo Mitsui Trust Group Inc. grew its position 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 period. Amova Asset Management Americas Inc. raised its stake in 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 acquiring an additional 888,480 shares in the last quarter. BlackRock Inc. bought a new position in shares of Kodiak AI during the second quarter valued at $9,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Kodiak AI during the second quarter valued at $1,276,000. 72.95% of the stock is currently owned by institutional investors.

Kodiak AI Stock Performance

NASDAQ KDK opened at $2.97 on Monday. Kodiak AI has a twelve month low of $2.93 and a twelve month high of $11.35. The stock has a market capitalization of $595.84 million, a PE ratio of -0.63 and a beta of 0.42. The stock has a 50-day simple moving average of $3.98 and a 200 day simple moving average of $6.10.

Kodiak AI (NASDAQ:KDK) last announced 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 company had revenue of $3.50 million during the quarter. As a group, equities research analysts forecast that Kodiak AI will post -0.92 EPS for the current fiscal year.

Kodiak AI Company Profile

Kodiak AI, Inc (NASDAQ: KDK) develops autonomous vehicle technology for the trucking and logistics industries. The company’s platform is designed to enable self-driving commercial trucks, with an emphasis on improving freight transportation safety, efficiency and reliability.

Its products and services include autonomous-driving software, vehicle systems and supporting hardware designed for long-haul trucking applications. Kodiak’s technology is intended to help commercial fleets operate vehicles with reduced dependence on human drivers, while supporting remote supervision, fleet management and deployment across defined freight routes.

The company was founded in 2018 as Kodiak Robotics by Don Burnett and has focused primarily on autonomous trucking in the United States.