C3.ai (NYSE:AI) Earns “Neutral” Rating from Piper Sandler Companies

C3.ai (NYSE:AI)‘s stock had its “neutral” rating reissued by stock analysts at Piper Sandler Companies in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. They currently have a $24.00 target price on the stock. Piper Sandler Companies’ price objective would indicate a potential upside of 12.70% from the stock’s previous close.

A number of other analysts have also commented on AI. Piper Sandler dropped their price target on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Northland Securities raised shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Thursday, May 30th. Morgan Stanley boosted their price target on shares of C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. Northland Capmk upgraded shares of C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.70.

C3.ai Stock Up 0.8 %

Shares of C3.ai stock opened at $21.30 on Thursday. The company’s fifty day simple moving average is $26.16 and its two-hundred day simple moving average is $26.64. C3.ai has a 12-month low of $18.85 and a 12-month high of $38.30. The firm has a market cap of $2.66 billion, a PE ratio of -9.10 and a beta of 1.83.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.08. The company had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. C3.ai’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm earned ($0.56) earnings per share. As a group, sell-side analysts expect that C3.ai will post -2.35 earnings per share for the current fiscal year.

Insider Buying and Selling at C3.ai

In other news, CFO Hitesh Lath sold 3,005 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the sale, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 34.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently made changes to their positions in AI. Principal Financial Group Inc. boosted its position in shares of C3.ai by 11.7% during the first quarter. Principal Financial Group Inc. now owns 10,703 shares of the company’s stock valued at $290,000 after buying an additional 1,119 shares during the last quarter. New York State Common Retirement Fund lifted its stake in C3.ai by 32.6% during the 4th quarter. New York State Common Retirement Fund now owns 33,135 shares of the company’s stock valued at $951,000 after acquiring an additional 8,141 shares during the period. Global Assets Advisory LLC boosted its holdings in shares of C3.ai by 2,547.8% during the 1st quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock valued at $24,273,000 after acquiring an additional 862,811 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of C3.ai in the fourth quarter worth approximately $202,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of C3.ai by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 706,677 shares of the company’s stock valued at $20,289,000 after purchasing an additional 66,701 shares during the last quarter. 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.