Kodiak AI (NASDAQ:KDK) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Kodiak AI from “strong sell” to “hold,” while broader analyst sentiment remains “Moderate Buy” with a consensus price target of $10.89.
• Kodiak AI shares opened at $1.59, near their 52-week low of $1.51 and well below the $11.35 high; the company has a market capitalization of approximately $319 million.
• The company reported a quarterly loss of $0.50 per share, missing the $0.17 consensus estimate, on revenue of $3.5 million. Institutional investors own nearly 73% of the stock.

Kodiak AI (NASDAQ:KDK - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Wednesday, Zacks reports.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC initiated coverage on shares of Kodiak AI in a research report on Wednesday, September 9th. They set a "buy" rating and a $8.00 target price for the company. Chardan Capital reaffirmed a "buy" rating and set a $12.00 target price on shares of Kodiak AI in a research note on Friday, September 25th. Citigroup reiterated a "buy" rating on shares of Kodiak AI in a report on Wednesday, August 19th. Morgan Stanley began coverage on shares of Kodiak AI in a research note on Friday, September 11th. They issued an "equal weight" rating and a $9.00 price target on the stock. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Kodiak AI in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Kodiak AI presently has an average rating of "Moderate Buy" and a consensus price target of $10.89.

Kodiak AI Stock Performance

Shares of KDK stock opened at $1.59 on Wednesday. Kodiak AI has a 52-week low of $1.51 and a 52-week high of $11.35. The firm has a market capitalization of $318.99 million, a PE ratio of -0.34 and a beta of 0.60. The stock has a fifty day simple moving average of $3.21 and a two-hundred day simple moving average of $5.39.

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

Institutional Investors Weigh In On Kodiak AI

Large investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. purchased a new stake in Kodiak AI during the second quarter valued at $19,538,000. BlackRock Inc. purchased a new position in shares of Kodiak AI in the 2nd quarter worth $9,073,000. Amova Asset Management Americas Inc. increased its holdings in shares of Kodiak AI by 112.5% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company's stock worth $11,628,000 after buying an additional 888,480 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Kodiak AI by 112.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company's stock worth $11,645,000 after buying an additional 888,480 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Kodiak AI in the 2nd quarter worth about $1,276,000. Institutional investors own 72.95% of the company's stock.

Kodiak AI Company Profile

Kodiak AI, Inc develops autonomous vehicle technology designed primarily for the trucking and logistics industries. Its platform is intended to enable autonomous operation of heavy-duty commercial vehicles, with an emphasis on improving transportation safety, efficiency and reliability.

The company's technology includes the Kodiak Driver, an autonomous driving system that combines sensors, onboard computing and artificial-intelligence software to perceive road conditions, plan routes and control vehicles.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.