Kodiak AI (NASDAQ:KDK) Price Target Lowered to $15.00 at Chardan Capital

Key Points

• Chardan Capital cut its price target for Kodiak AI from $22 to $15 while maintaining a "buy" rating, implying roughly a 64.8% upside from the stock's recent $9.10 price.
• Consensus view is "Moderate Buy" with an average analyst target of $14.30 and a split of recommendations (1 Strong Buy, 4 Buy, 1 Hold, 1 Sell).
• Institutional ownership is high (~72.95%) as several funds (including ARK, Geode, Rokos, Amova and Sumitomo Mitsui) have recently initiated or increased stakes in the company.

Kodiak AI (NASDAQ:KDK - Get Free Report) had its target price decreased by investment analysts at Chardan Capital from $22.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Chardan Capital's price objective would suggest a potential upside of 64.84% from the company's current price.

Several other analysts also recently weighed in on the stock. TD Cowen dropped their target price on shares of Kodiak AI from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, March 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Kodiak AI in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.30.

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Kodiak AI Trading Up 3.1%

NASDAQ:KDK opened at $9.10 on Friday. The company has a market cap of $1.66 billion, a PE ratio of -13.79 and a beta of 0.40. Kodiak AI has a twelve month low of $5.43 and a twelve month high of $11.62. The company's 50 day moving average is $8.28 and its two-hundred day moving average is $8.44.

Institutional Trading of Kodiak AI

Several institutional investors and hedge funds have recently bought and sold shares of KDK. Rokos Capital Management US LP acquired a new stake in Kodiak AI during the 3rd quarter valued at approximately $14,185,000. ARK Investment Management LLC lifted its stake in Kodiak AI by 190.3% during the 4th quarter. ARK Investment Management LLC now owns 2,669,456 shares of the company's stock valued at $29,150,000 after acquiring an additional 1,749,863 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kodiak AI by 725.0% in the 4th quarter. Geode Capital Management LLC now owns 1,213,179 shares of the company's stock valued at $13,254,000 after purchasing an additional 1,066,128 shares during the period. Amova Asset Management Americas Inc. lifted its stake 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 valued at $11,628,000 after purchasing an additional 888,480 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake 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 valued at $11,645,000 after purchasing an additional 888,480 shares during the period. 72.95% of the stock is currently owned by institutional investors and hedge funds.

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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