C3.ai, Inc. (NYSE:AI) Receives $27.70 Consensus PT from Analysts

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

Several analysts have commented on AI shares. DA Davidson decreased their price target on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Morgan Stanley decreased their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research note on Thursday, May 30th.

Insider Transactions at C3.ai

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

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp increased its holdings in shares of 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 purchasing an additional 900 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in C3.ai during the second quarter valued at $28,000. Blue Trust Inc. increased its holdings in 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 buying an additional 615 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of C3.ai in the fourth quarter worth about $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of C3.ai in the second quarter worth about $29,000. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Performance

NYSE AI opened at $23.25 on Friday. The company has a market cap of $2.90 billion, a PE ratio of -9.94 and a beta of 1.81. The firm’s 50 day moving average price is $24.85 and its 200-day moving average price is $26.08. C3.ai has a 52-week low of $18.85 and a 52-week high of $38.30.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The business had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The business’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the business posted ($0.56) EPS. On average, analysts forecast that C3.ai will post -2.32 earnings per share for the current fiscal year.

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.