Kodiak AI (NASDAQ:KDK) Given Buy Rating at Chardan Capital

Key Points

• Chardan Capital reiterated its Buy rating on Kodiak AI and set a $12 price target, implying 208.48% upside from the prior close. The analyst consensus is Moderate Buy with an average target of $11.12.
• Shares opened at $3.89, near the lower end of their 52-week range of $3.48 to $11.43. Kodiak AI reported a quarterly loss of $0.50 per share, missing estimates by $0.33, on revenue of $3.50 million.
• Institutional investors and hedge funds own 72.95% of the company, with several firms recently initiating positions. Kodiak AI is a blank-check company that has not yet selected or begun substantive discussions with a merger target.

Kodiak AI (NASDAQ:KDK - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Chardan Capital in a report issued on Wednesday, Benzinga reports. They presently have a $12.00 price target on the stock. Chardan Capital's target price would indicate a potential upside of 208.48% from the stock's previous close.

KDK has been the topic of several other reports. Weiss Ratings lowered shares of Kodiak AI from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 17th. Needham & Company LLC began coverage on Kodiak AI in a report on Wednesday. They set a "buy" rating and a $8.00 price objective for the company. Oppenheimer assumed coverage on Kodiak AI in a research report on Tuesday, August 25th. They issued an "outperform" rating and a $9.00 price objective for the company. Wall Street Zen cut Kodiak AI from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. Finally, Craig Hallum started coverage on Kodiak AI in a report on Monday, June 15th. They issued a "buy" rating and a $12.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.12.

Kodiak AI Stock Performance

NASDAQ:KDK opened at $3.89 on Wednesday. Kodiak AI has a fifty-two week low of $3.48 and a fifty-two week high of $11.43. The stock has a market capitalization of $780.41 million, a P/E ratio of -0.83 and a beta of 0.42. The company's 50-day simple moving average is $4.30 and its 200-day simple moving average is $6.47.

Kodiak AI (NASDAQ:KDK - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The company had revenue of $3.50 million for the quarter. On average, research analysts forecast that Kodiak AI will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Kodiak AI

Several hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new position in Kodiak AI in the 4th quarter worth $44,000. JPMorgan Chase & Co. purchased a new position in shares of Kodiak AI in the third quarter worth about $36,000. Ieq Capital LLC acquired a new stake in shares of Kodiak AI during the fourth quarter worth about $186,000. XTX Topco Ltd purchased a new stake in Kodiak AI in the fourth quarter valued at approximately $188,000. Finally, Cannon Global Investment Management LLC acquired a new position in Kodiak AI in the 1st quarter worth approximately $119,000. 72.95% of the stock is owned by institutional investors and hedge funds.

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.

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