Needham & Company LLC Issues Pessimistic Forecast for Kodiak AI (NASDAQ:KDK) Stock Price

Kodiak AI (NASDAQ:KDK) had its price target dropped by equities research analysts at Needham & Company LLC to $4.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC‘s target price indicates a potential upside of 320.57% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Oppenheimer began coverage on Kodiak AI in a research note on Tuesday, August 25th. They set an “outperform” rating and a $9.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and set a $4.50 target price on shares of Kodiak AI in a report on Thursday, October 29th. Morgan Stanley assumed coverage on Kodiak AI in a research report on Friday, September 11th. They set an “equal weight” rating and a $9.00 price target for the company. Citigroup reissued a “buy” rating on shares of Kodiak AI in a report on Wednesday, August 19th. Finally, Zacks Research upgraded Kodiak AI from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.19.

Kodiak AI Price Performance

Shares of Kodiak AI stock opened at $0.95 on Friday. The stock has a market cap of $190.81 million, a PE ratio of -0.20 and a beta of 0.75. The firm has a fifty day moving average price of $2.33 and a 200 day moving average price of $5.82. Kodiak AI has a 1 year low of $0.95 and a 1 year high of $11.35.

Kodiak AI (NASDAQ:KDK) last posted 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 business had revenue of $3.50 million for the quarter. As a group, equities analysts expect that Kodiak AI will post -0.93 EPS for the current year.

Institutional Investors Weigh In On Kodiak AI

A number of institutional investors have recently modified their holdings of the business. AlphaCentric Advisors LLC purchased a new position in shares of Kodiak AI in the 3rd quarter valued at about $192,000. Integrity Alliance LLC. purchased a new position in Kodiak AI during the third quarter worth approximately $93,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Kodiak AI during the third quarter worth approximately $59,000. Curated Wealth Partners LLC acquired a new stake in Kodiak AI in the third quarter valued at approximately $114,000. Finally, HighTower Advisors LLC acquired a new stake in Kodiak AI in the second quarter valued at approximately $121,000. 72.95% of the stock is currently owned by institutional investors and hedge funds.

Kodiak AI Company Profile

Kodiak AI, Inc develops autonomous vehicle technology designed to help commercial and industrial operators improve the safety, efficiency and reliability of transportation. The company’s platform combines artificial intelligence, sensors, software and vehicle-control systems to support autonomous operation in complex environments.

Founded as Kodiak Robotics, the company initially focused on autonomous long-haul trucking and has developed systems intended for use in freight transportation.