Kodiak AI (NASDAQ:KDK) Releases Earnings Results, Misses Estimates By $0.33 EPS

Kodiak AI (NASDAQ:KDK) released its quarterly earnings results on Wednesday. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.33), Zacks reports. The firm had revenue of $0.77 million for the quarter, compared to analyst estimates of $0.50 million.

Kodiak AI Price Performance

NASDAQ:KDK traded down $1.52 during trading hours on Thursday, hitting $6.48. The stock had a trading volume of 926,879 shares, compared to its average volume of 672,257. The company has a market cap of $400.85 million, a price-to-earnings ratio of 24.92 and a beta of -0.18. Kodiak AI has a one year low of $5.77 and a one year high of $11.62.

Institutional Investors Weigh In On Kodiak AI

A number of hedge funds and other institutional investors have recently modified their holdings of KDK. UBS Group AG purchased a new position in shares of Kodiak AI in the third quarter worth $1,059,000. Barclays PLC bought a new stake in Kodiak AI in the 3rd quarter worth $830,000. Finally, JPMorgan Chase & Co. bought a new stake in Kodiak AI in the 3rd quarter worth $36,000. Institutional investors own 72.95% of the company’s stock.

Wall Street Analyst Weigh In

KDK has been the subject of a number of research reports. Cantor Fitzgerald assumed coverage on Kodiak AI in a research note on Monday, October 20th. They set an “overweight” rating and a $13.00 target price for the company. Weiss Ratings began coverage on shares of Kodiak AI in a research report on Saturday, October 11th. They set a “sell (e+)” rating on the stock. Citigroup initiated coverage on shares of Kodiak AI in a research report on Monday, October 20th. They set a “buy” rating and a $13.50 price objective for the company. Chardan Capital reiterated a “buy” rating and issued a $22.00 price objective on shares of Kodiak AI in a research note on Thursday. Finally, Northland Securities set a $17.00 price target on Kodiak AI in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.90.

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.