Maxim analyst Allen Klee downgraded Orangekloud (ORKT) to Hold from Buy. The company’s current business of no-code application development is being challenged by the rise in numerous AI coding tools from leading LLMs such as OpenAI, Anthropic, and Gemini (GOOGL), the analyst tells investors in a research note. Orangekloud also ended June 2025 with S$5.2M in cash, and the firm projects the company will need to raise capital toward the end of 2026, Maxim added.
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