C3.ai, Inc. (NYSE:AI) Receives Average Rating of “Hold” from Analysts

C3.ai, Inc. (NYSE:AI) has received an average rating of “Hold” from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $27.70.

Several equities research analysts have issued reports on the stock. Piper Sandler Companies reaffirmed a “neutral” rating and set a $24.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. Piper Sandler dropped their price objective on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Finally, Bank of America dropped their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th.

C3.ai Stock Performance

C3.ai stock opened at $23.25 on Friday. The stock has a market capitalization of $2.90 billion, a P/E ratio of -9.94 and a beta of 1.81. The company’s fifty day moving average price is $24.85 and its 200 day moving average price is $26.08. C3.ai has a 1 year low of $18.85 and a 1 year high of $38.30.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.08. The company had revenue of $87.21 million during the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. C3.ai’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.56) EPS. Sell-side analysts predict that C3.ai will post -2.32 EPS for the current year.

Insider Buying and Selling at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $27.56, for a total transaction of $82,817.80. Following the completion of the sale, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at approximately $203,668.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently made changes to their positions in AI. Toth Financial Advisory Corp boosted its holdings in C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 900 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of C3.ai during the second quarter worth about $28,000. Blue Trust Inc. boosted its stake in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after purchasing an additional 615 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of C3.ai in the fourth quarter valued at approximately $29,000. Finally, Hobbs Group Advisors LLC purchased a new stake in C3.ai during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.