C3.ai (NYSE:AI) Shares Up 0.4%

C3.ai, Inc. (NYSE:AI)’s stock price rose 0.4% during trading on Thursday . The stock traded as high as $27.75 and last traded at $27.36. Approximately 1,028,241 shares were traded during trading, a decline of 87% from the average daily volume of 7,938,348 shares. The stock had previously closed at $27.26.

Analysts Set New Price Targets

AI has been the topic of a number of recent research reports. Wedbush reduced their target price on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. DA Davidson lowered their price target on C3.ai from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, December 7th. Bank of America increased their price target on C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Piper Sandler lifted their target price on C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Canaccord Genuity Group lifted their price target on C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.91.

C3.ai Trading Down 0.7 %

The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -11.74 and a beta of 1.77. The firm has a fifty day moving average price of $28.30 and a 200 day moving average price of $27.65.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.13. The company had revenue of $78.40 million for the quarter, compared to analysts’ expectations of $75.92 million. C3.ai had a negative net margin of 95.21% and a negative return on equity of 29.60%. As a group, equities analysts predict that C3.ai, Inc. will post -2.48 EPS for the current fiscal year.

Institutional Trading of C3.ai

Several hedge funds and other institutional investors have recently modified their holdings of AI. Fort Pitt Capital Group LLC acquired a new position in C3.ai during the 3rd quarter worth approximately $204,000. Raymond James & Associates boosted its stake in C3.ai by 148.3% during the third quarter. Raymond James & Associates now owns 158,943 shares of the company’s stock worth $4,056,000 after acquiring an additional 94,932 shares in the last quarter. Citigroup Inc. raised its holdings in C3.ai by 201.2% during the third quarter. Citigroup Inc. now owns 166,303 shares of the company’s stock worth $4,244,000 after buying an additional 111,095 shares during the last quarter. Fortem Financial Group LLC raised its holdings in C3.ai by 79.2% during the third quarter. Fortem Financial Group LLC now owns 26,280 shares of the company’s stock worth $671,000 after buying an additional 11,617 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of C3.ai by 11.7% in the third quarter. Newbridge Financial Services Group Inc. now owns 22,363 shares of the company’s stock valued at $571,000 after purchasing an additional 2,336 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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.