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

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

KDK has been the topic of a number of research analyst reports. Citigroup reduced their target price on Kodiak AI from $13.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. TD Cowen reduced their target price on Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Wall Street Zen raised Kodiak AI from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak AI in a research note on Friday, March 27th. Finally, Chardan Capital reduced their target price on Kodiak AI from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake 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 shares of Kodiak AI during the first quarter valued at about $125,000. Amova Asset Management Americas Inc. grew its stake 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 valued at $11,628,000 after buying an additional 888,480 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Kodiak AI by 143.5% during the first quarter. Bank of New York Mellon Corp now owns 25,779 shares of the company’s stock valued at $179,000 after buying an additional 15,190 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of 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 buying an additional 888,480 shares during the last quarter. Institutional investors own 72.95% of the company’s stock.

Kodiak AI Price Performance

KDK opened at $6.14 on Friday. The stock has a market cap of $1.13 billion, a PE ratio of -6.75 and a beta of 0.26. Kodiak AI has a 52 week low of $5.43 and a 52 week high of $11.48. The business’s fifty day simple moving average is $7.86 and its 200 day simple moving average is $8.33.

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.