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

C3.ai, Inc. (NYSE:AI) has earned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $27.70.

A number of research analysts have issued reports on AI shares. Bank of America decreased their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and set a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Canaccord Genuity Group cut their target price on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. Finally, Wedbush cut their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

C3.ai Trading Down 0.1 %

Shares of NYSE AI opened at $26.16 on Thursday. The business’s 50 day moving average is $24.00 and its 200-day moving average is $25.52. The firm has a market cap of $3.27 billion, a P/E ratio of -11.18 and a beta of 1.81. 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 earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.94 million. During the same quarter last year, the firm earned ($0.56) earnings per share. The company’s revenue was up 20.5% on a year-over-year basis. Analysts forecast that C3.ai will post -2.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AI. Principal Financial Group Inc. grew its holdings in shares of C3.ai by 11.7% during the 1st quarter. Principal Financial Group Inc. now owns 10,703 shares of the company’s stock valued at $290,000 after purchasing an additional 1,119 shares during the last quarter. Global Assets Advisory LLC grew its stake in shares of C3.ai by 2,547.8% during the first quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock worth $24,273,000 after buying an additional 862,811 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of C3.ai during the second quarter worth $3,465,000. EverSource Wealth Advisors LLC lifted its stake in shares of C3.ai by 4,860.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock valued at $865,000 after acquiring an additional 31,302 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of C3.ai during the 4th quarter valued at $1,012,000. 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.