C3.ai (NYSE:AI) Stock Price Up 0.8%

C3.ai, Inc. (NYSE:AI) shot up 0.8% during trading on Monday . The stock traded as high as $27.79 and last traded at $27.43. 958,737 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 6,847,547 shares. The stock had previously closed at $27.21.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AI. Northland Securities raised shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Thursday, May 30th. Piper Sandler reduced their target price on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Canaccord Genuity Group reduced their target price on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Three 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.30.

C3.ai Stock Performance

The business’s fifty day moving average price is $25.95 and its 200-day moving average price is $27.14.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.18. The firm had revenue of $86.59 million for the quarter, compared to the consensus estimate of $84.45 million. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.35 earnings per share for the current year.

Hedge Funds Weigh In On C3.ai

Institutional investors have recently made changes to their positions in the business. UBS Group AG raised its stake in C3.ai by 405.2% during the 3rd quarter. UBS Group AG now owns 183,159 shares of the company’s stock worth $4,674,000 after acquiring an additional 243,169 shares during the period. Rhumbline Advisers raised its stake in C3.ai by 20.6% during the 3rd quarter. Rhumbline Advisers now owns 105,561 shares of the company’s stock worth $2,694,000 after acquiring an additional 18,040 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in C3.ai during the 3rd quarter worth approximately $25,000. Hsbc Holdings PLC raised its stake in C3.ai by 344.6% during the 3rd quarter. Hsbc Holdings PLC now owns 37,905 shares of the company’s stock worth $962,000 after acquiring an additional 29,379 shares during the period. Finally, LPL Financial LLC raised its stake in C3.ai by 37.4% during the 3rd quarter. LPL Financial LLC now owns 159,289 shares of the company’s stock worth $4,065,000 after acquiring an additional 43,363 shares during the period. 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.