Kodiak AI, Inc. (NASDAQ:KDK) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is cautiously positive: Eleven firms give Kodiak AI a consensus “Moderate Buy” rating, with seven buys, one strong buy, one hold and two sells. The average 12-month price target is $10.89.
• Shares have declined sharply: KDK opened at $3.28, near its one-year low of $3.24 and well below its $11.40 high; its 50-day and 200-day moving averages are $4.06 and $6.21, respectively.
• Financial results remain weak despite institutional interest: Kodiak reported a quarterly loss of $0.50 per share versus the expected $0.17 loss on $3.5 million in revenue. Institutional investors own 72.95% of the stock, with several large funds recently adding or initiating positions.

Shares of Kodiak AI, Inc. (NASDAQ:KDK - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $10.8889.

A number of equities research analysts recently weighed in on KDK shares. Wall Street Zen lowered Kodiak AI from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 22nd. Morgan Stanley initiated coverage on Kodiak AI in a research note on Friday, September 11th. They set an "equal weight" rating and a $9.00 price target on the stock. Needham & Company LLC began coverage on Kodiak AI in a report on Wednesday, September 9th. They set a "buy" rating and a $8.00 price target on the stock. Weiss Ratings lowered shares of Kodiak AI from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 17th. Finally, Zacks Research downgraded shares of Kodiak AI from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 15th.

Kodiak AI Price Performance

Shares of NASDAQ:KDK opened at $3.28 on Monday. The company has a market cap of $658.03 million, a price-to-earnings ratio of -0.70 and a beta of 0.42. The firm has a 50 day simple moving average of $4.06 and a 200 day simple moving average of $6.21. Kodiak AI has a one year low of $3.24 and a one year high of $11.40.

Kodiak AI (NASDAQ:KDK - Get Free Report) last issued its earnings results 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 business had revenue of $3.50 million for the quarter. As a group, analysts expect that Kodiak AI will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Kodiak AI

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

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