Kodiak AI (NASDAQ:KDK) Upgraded by Needham & Company LLC to Moderate Buy Rating

Key Points

• Needham upgraded Kodiak AI to a “Moderate Buy” rating. The stock has a consensus “Moderate Buy” rating from analysts, with an average price target of $11.12.
• Kodiak AI shares opened at $3.86, down 0.8%, and remain near their 52-week low of $3.48. The company reported a quarterly loss of $0.50 per share, missing estimates by $0.33, on revenue of $3.50 million.
• Institutional investors own 72.95% of the company, with several firms recently initiating or increasing positions, including Bank of New York Mellon, which raised its stake by 143.5%.

Kodiak AI (NASDAQ:KDK - Get Free Report) was upgraded by research analysts at Needham & Company LLC to a "moderate buy" rating in a report issued on Wednesday, Zacks reports.

A number of other research analysts have also recently issued reports on the company. Oppenheimer assumed coverage on Kodiak AI in a report on Tuesday, August 25th. They set an "outperform" rating and a $9.00 price objective for the company. Wall Street Zen lowered shares of Kodiak AI from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Weiss Ratings cut shares of Kodiak AI from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, July 17th. Citigroup reissued a "buy" rating on shares of Kodiak AI in a report on Wednesday, August 19th. Finally, Craig Hallum initiated coverage on shares of Kodiak AI in a research report on Monday, June 15th. They issued a "buy" rating and a $12.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.12.

Kodiak AI Trading Down 0.8%

Shares of KDK opened at $3.86 on Wednesday. The stock has a market cap of $774.39 million, a PE ratio of -0.82 and a beta of 0.42. Kodiak AI has a 1 year low of $3.48 and a 1 year high of $11.43. The stock has a 50 day simple moving average of $4.27 and a 200-day simple moving average of $6.43.

Kodiak AI (NASDAQ:KDK - Get Free Report) last announced its quarterly earnings results 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 during the quarter. On average, sell-side analysts forecast that Kodiak AI will post -0.63 EPS for the current fiscal year.

Institutional Trading of Kodiak AI

Several large investors have recently made changes to their positions in KDK. Parkside Financial Bank & Trust bought a new position in shares of Kodiak AI in the fourth quarter valued at about $44,000. JPMorgan Chase & Co. acquired a new stake in Kodiak AI in the 3rd quarter valued at about $36,000. Bank of New York Mellon Corp raised its stake in shares of Kodiak AI by 143.5% in the first quarter. Bank of New York Mellon Corp now owns 25,779 shares of the company's stock worth $179,000 after acquiring an additional 15,190 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of Kodiak AI during the fourth quarter worth approximately $186,000. Finally, XTX Topco Ltd bought a new stake in shares of Kodiak AI during the fourth quarter valued at approximately $188,000. Institutional investors own 72.95% of the company's stock.

About Kodiak AI

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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