Kodiak AI (NASDAQ:KDK) Receives Buy Rating from Chardan Capital

Key Points

• Chardan Capital reiterated a Buy rating on Kodiak AI and set a $12 price target, implying approximately 395% upside from the stock’s $2.42 price. The analyst consensus is “Moderate Buy” with an average target of $10.89.
• Kodiak AI reported a quarterly loss of $0.50 per share, missing the $0.17 consensus estimate, while revenue totaled $3.5 million. Analysts expect a full-year loss of $0.92 per share.
• The stock has declined sharply from its 52-week high of $11.35 to a low of $2.13, while institutional investors own approximately 72.95% of the company’s shares.

Kodiak AI (NASDAQ:KDK - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Chardan Capital in a report released on Friday, Benzinga reports. They currently have a $12.00 target price on the stock. Chardan Capital's price objective would indicate a potential upside of 395.25% from the company's current price.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC started coverage on shares of Kodiak AI in a report on Wednesday, September 9th. They issued a "buy" rating and a $8.00 price objective on the stock. Citigroup restated a "buy" rating on shares of Kodiak AI in a research note on Wednesday, August 19th. Oppenheimer began coverage on shares of Kodiak AI in a research note on Tuesday, August 25th. They set an "outperform" rating and a $9.00 price objective on the stock. Weiss Ratings lowered shares of Kodiak AI from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, July 17th. Finally, Morgan Stanley assumed coverage on shares of Kodiak AI in a research note on Friday, September 11th. They set an "equal weight" rating and a $9.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $10.89.

Kodiak AI Stock Performance

Shares of KDK opened at $2.42 on Friday. The stock has a fifty day moving average of $3.95 and a two-hundred day moving average of $6.06. The company has a market capitalization of $486.10 million, a PE ratio of -0.53 and a beta of 0.42. Kodiak AI has a fifty-two week low of $2.13 and a fifty-two week high of $11.35.

Kodiak AI (NASDAQ:KDK - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The firm had revenue of $3.50 million for the quarter. As a group, equities research analysts forecast that Kodiak AI will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kodiak AI

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Kodiak AI by 143.5% during the 1st quarter. Bank of New York Mellon Corp now owns 25,779 shares of the company's stock valued at $179,000 after purchasing an additional 15,190 shares in the last quarter. Cannon Global Investment Management LLC bought a new position in shares of Kodiak AI during the 1st quarter valued at $119,000. The Manufacturers Life Insurance Company bought a new position in Kodiak AI in the 1st quarter worth $125,000. Royal Bank of Canada grew its position in Kodiak AI by 502.2% in the 1st 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 last quarter. Finally, HighTower Advisors LLC acquired a new stake in Kodiak AI in the 2nd quarter worth $121,000. Hedge funds and other institutional investors own 72.95% of the company's stock.

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.