AmerX Starts Kodiak AI (KDK) at Hold
AmerX analyst Casey Ryan initiates coverage on Kodiak AI (NASDAQ: KDK) with a Hold rating.
The analyst commented: "Initiate with a Hold and No Price Target. Uncertain timing of larger revenue increases is a key risk to our initial forecasts. We also expect that Kodiak will need to raise capital to support growth in 2027 and 2028, which could pressure equity valuations over that period. Given these risks, and a current valuation that sits at a price-to-sales multiple of 11.9x our FY28 revenue estimate of $97.7M, we remain cautious on shares at current levels and see them as being in a fair value range."
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Shares of Kodiak AI closed at $5.84 yesterday.