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

Shares of Kodiak AI, Inc. (NASDAQ:KDK) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $12.50.

A number of research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Kodiak AI from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings upgraded shares of Kodiak AI from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. TD Cowen reduced their price target on Kodiak AI from $14.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Craig Hallum started coverage on Kodiak AI in a research report on Monday, June 15th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Northland Securities set a $11.00 price objective on Kodiak AI in a research report on Monday, May 11th.

Kodiak AI Stock Down 4.7%

NASDAQ:KDK opened at $5.07 on Wednesday. Kodiak AI has a twelve month low of $5.00 and a twelve month high of $11.48. The firm has a market capitalization of $932.12 million, a price-to-earnings ratio of -5.57 and a beta of 0.40. The stock’s 50 day moving average price is $6.85 and its two-hundred day moving average price is $8.18.

Institutional Investors Weigh In On Kodiak AI

Several hedge funds have recently added to or reduced their stakes in KDK. JPMorgan Chase & Co. acquired a new position in shares of Kodiak AI in the third quarter valued at $36,000. Parkside Financial Bank & Trust acquired a new stake in shares of Kodiak AI during the 4th quarter worth about $44,000. Farther Finance Advisors LLC acquired a new stake in shares of Kodiak AI during the 4th quarter worth about $78,000. Cannon Global Investment Management LLC bought a new stake in shares of Kodiak AI during the 1st quarter worth about $119,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Kodiak AI during the 1st quarter worth about $125,000. 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.