Kodiak AI, Inc. (NASDAQ:KDK) Receives $12.50 Average Target Price from Analysts

Shares of Kodiak AI, Inc. (NASDAQ:KDK) have been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.50.

Several equities analysts recently commented on KDK shares. Craig Hallum began coverage on shares of Kodiak AI in a research note on Monday, June 15th. They issued a “buy” rating and a $12.00 price target on the stock. Chardan Capital decreased their price target on Kodiak AI from $22.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Kodiak AI from a “hold” rating to a “sell” rating in a research report on Saturday. Northland Securities set a $11.00 target price on Kodiak AI in a research note on Monday, May 11th. Finally, Citigroup dropped their price target on Kodiak AI from $13.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th.

Institutional Investors Weigh In On Kodiak AI

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Kodiak AI in the second quarter valued at approximately $9,073,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Kodiak AI during the 2nd quarter worth approximately $1,276,000. Bank of New York Mellon Corp acquired a new stake in shares of Kodiak AI during the 2nd quarter worth approximately $130,000. Royal Bank of Canada grew its position in shares of Kodiak AI by 502.2% during the 1st quarter. Royal Bank of Canada now owns 24,689 shares of the company’s stock worth $171,000 after buying an additional 20,589 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Kodiak AI in the 1st quarter valued at $125,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

Kodiak AI Stock Up 2.8%

Shares of KDK stock opened at $4.48 on Friday. Kodiak AI has a 12-month low of $3.97 and a 12-month high of $11.44. The company has a market capitalization of $823.65 million, a PE ratio of -0.95 and a beta of 0.45. The firm has a 50 day moving average price of $5.22 and a two-hundred day moving average price of $7.28.

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.