Kodiak AI (NASDAQ:KDK) Stock Price Target Cut by Needham & Company LLC

Key Points

• Needham cut its Kodiak AI price target to $4 but kept a Buy rating, implying 320.57% upside from the prior close.
• Analyst sentiment is broadly positive: Kodiak AI has a consensus “Moderate Buy” rating and an average target price of $9.19.
• The stock opened at $0.95 after a reported 13.5% decline. In its latest reported quarter, Kodiak AI posted a $0.50-per-share loss, missing the consensus estimate of a $0.17 loss.

Kodiak AI (NASDAQ:KDK - Get Free Report) had its price objective cut by equities researchers at Needham & Company LLC to $4.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective suggests a potential upside of 320.57% from the company's previous close.

KDK has been the subject of a number of other reports. Oppenheimer started coverage on shares of Kodiak AI in a report on Tuesday, August 25th. They issued an "outperform" rating and a $9.00 target price for the company. Morgan Stanley started coverage on shares of Kodiak AI in a report on Friday, September 11th. They issued an "equal weight" rating and a $9.00 price target on the stock. Chardan Capital restated a "buy" rating and issued a $4.50 price target on shares of Kodiak AI in a report on Thursday, October 29th. Zacks Research raised shares of Kodiak AI from a "strong sell" rating to a "hold" rating in a research report on Wednesday, October 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Kodiak AI in a research report on Monday, September 28th. Seven investment analysts have rated the stock with a Buy rating, two have 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 a consensus rating of "Moderate Buy" and a consensus target price of $9.19.

Kodiak AI Trading Down 13.5%

KDK opened at $0.95 on Friday. The firm has a market cap of $190.81 million, a price-to-earnings ratio of -0.20 and a beta of 0.75. Kodiak AI has a 12 month low of $0.95 and a 12 month high of $11.35. The stock has a fifty day moving average price of $2.33 and a 200-day moving average price of $5.82.

Kodiak AI (NASDAQ:KDK - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.33). The company had revenue of $3.50 million during the quarter. On average, equities research analysts forecast that Kodiak AI will post -0.93 EPS for the current year.

Institutional Trading of Kodiak AI

Several large investors have recently added to or reduced their stakes in KDK. The Manufacturers Life Insurance Company purchased a new position in shares of Kodiak AI in the first quarter worth about $125,000. HighTower Advisors LLC acquired a new stake in shares of Kodiak AI during the second quarter worth about $121,000. Royal Bank of Canada lifted its holdings in shares of Kodiak AI by 502.2% during the first quarter. Royal Bank of Canada now owns 24,689 shares of the company's stock worth $171,000 after purchasing an additional 20,589 shares during the period. Bank of New York Mellon Corp purchased a new stake in Kodiak AI in the second quarter valued at approximately $130,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Kodiak AI in the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 72.95% of the company's stock.

Kodiak AI Company Profile

Kodiak AI, Inc develops autonomous vehicle technology designed to help commercial and industrial operators improve the safety, efficiency and reliability of transportation. The company's platform combines artificial intelligence, sensors, software and vehicle-control systems to support autonomous operation in complex environments.

Founded as Kodiak Robotics, the company initially focused on autonomous long-haul trucking and has developed systems intended for use in freight transportation.

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