Oppenheimer Reiterates Outperform Rating for C3.ai (NYSE:AI)

Oppenheimer restated their outperform rating on shares of C3.ai (NYSE:AI) in a report issued on Thursday, Benzinga reports. They currently have a $40.00 price target on the stock.

Other analysts have also issued research reports about the stock. Northland Capmk raised shares of C3.ai from a hold rating to a strong-buy rating in a research report on Thursday, May 30th. Bank of America lowered their target price on shares of C3.ai from $24.00 to $20.00 and set an underperform rating on the stock in a report on Thursday. Wedbush cut their price target on C3.ai from $40.00 to $30.00 and set an outperform rating for the company in a report on Thursday. Northland Securities raised shares of C3.ai from a market perform rating to an outperform rating and set a $35.00 price objective for the company in a research note on Thursday, May 30th. Finally, Needham & Company LLC reissued a hold rating on shares of C3.ai in a report on Thursday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $27.70.

C3.ai Trading Up 0.9 %

Shares of NYSE AI opened at $21.30 on Thursday. The stock has a fifty day simple moving average of $26.16 and a two-hundred day simple moving average of $26.64. C3.ai has a 1-year low of $18.85 and a 1-year high of $38.30. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -9.10 and a beta of 1.81.

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

Insider Transactions at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 34.00% of the company’s stock.

Institutional Trading of C3.ai

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in C3.ai in the 2nd quarter worth approximately $373,000. Cetera Investment Advisers grew its holdings in shares of C3.ai by 16.4% in the second quarter. Cetera Investment Advisers now owns 57,341 shares of the company’s stock worth $1,661,000 after purchasing an additional 8,094 shares during the last quarter. Truist Financial Corp increased its stake in shares of C3.ai by 5.1% in the second quarter. Truist Financial Corp now owns 21,211 shares of the company’s stock worth $614,000 after buying an additional 1,023 shares during the period. Point72 Asset Management L.P. bought a new stake in C3.ai during the 2nd quarter valued at $513,000. Finally, EP Wealth Advisors LLC boosted its position in C3.ai by 5.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 10,840 shares of the company’s stock valued at $314,000 after buying an additional 601 shares during the period. 38.96% of the stock is owned by institutional investors.

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.