TD Cowen Issues Pessimistic Forecast for Kodiak AI (NASDAQ:KDK) Stock Price

Kodiak AI (NASDAQ:KDK) had its price target cut by research analysts at TD Cowen from $14.00 to $13.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 47.33% from the company’s previous close.

A number of other research analysts have also recently weighed in on KDK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak AI in a research report on Monday, December 29th. Chardan Capital restated a “buy” rating and issued a $22.00 target price on shares of Kodiak AI in a report on Wednesday. Finally, Wall Street Zen downgraded shares of Kodiak AI to a “strong sell” rating in a report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.70.

Kodiak AI Trading Down 1.7%

Shares of Kodiak AI stock traded down $0.16 on Thursday, reaching $8.82. The company had a trading volume of 149,574 shares, compared to its average volume of 480,422. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -26.01 and a beta of -0.34. The firm’s 50-day simple moving average is $9.10. Kodiak AI has a 1 year low of $5.43 and a 1 year high of $11.62.

Kodiak AI (NASDAQ:KDK) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The company had revenue of $1.05 million during the quarter, compared to the consensus estimate of $0.52 million.

Institutional Trading of Kodiak AI

A number of hedge funds and other institutional investors have recently bought and sold shares of KDK. JPMorgan Chase & Co. bought a new stake in shares of Kodiak AI during the third quarter worth $36,000. Parkside Financial Bank & Trust purchased a new position in Kodiak AI in the 4th quarter worth about $44,000. Farther Finance Advisors LLC purchased a new position in Kodiak AI in the 4th quarter worth about $78,000. Ieq Capital LLC bought a new stake in Kodiak AI during the 4th quarter valued at about $186,000. Finally, XTX Topco Ltd bought a new stake in Kodiak AI during the 4th quarter valued at about $188,000. Hedge funds and other institutional investors own 72.95% of the company’s stock.

Kodiak AI Company Profile

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.