TD Cowen Cuts Kodiak AI (NASDAQ:KDK) Price Target to $13.00

Kodiak AI (NASDAQ:KDK) had its target price decreased by equities research analysts at TD Cowen from $14.00 to $13.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 47.33% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Chardan Capital reaffirmed a “buy” rating and set a $22.00 price objective on shares of Kodiak AI in a report on Wednesday. Wall Street Zen lowered shares of Kodiak AI to a “strong sell” rating in a research report on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.70.

Kodiak AI Stock Performance

Shares of KDK traded down $0.16 during trading hours on Thursday, reaching $8.82. 149,574 shares of the stock traded hands, compared to its average volume of 480,422. The company has a market capitalization of $1.60 billion, a P/E ratio of -26.01 and a beta of -0.34. The company’s 50-day simple moving average is $9.10. Kodiak AI has a 52-week low of $5.43 and a 52-week high of $11.62.

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

Institutional Trading of Kodiak AI

Several hedge funds have recently modified their holdings of KDK. Amova Asset Management Americas Inc. purchased a new stake in Kodiak AI during the third quarter valued at $4,228,000. ARK Investment Management LLC purchased a new position in shares of Kodiak AI in the 3rd quarter worth $6,290,000. XTX Topco Ltd bought a new stake in shares of Kodiak AI in the 4th quarter worth about $188,000. Parkside Financial Bank & Trust bought a new stake in shares of Kodiak AI in the 4th quarter worth about $44,000. Finally, Ieq Capital LLC purchased a new stake in shares of Kodiak AI during the 4th quarter valued at about $186,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

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.