C3.ai (NYSE:AI) Stock Rating Reaffirmed by Piper Sandler Companies

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

A number of other equities research analysts also recently weighed in on the company. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of C3.ai in a research report on Wednesday, May 29th. Canaccord Genuity Group reduced their price target on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, May 30th. Finally, Piper Sandler cut their price target on C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.70.

C3.ai Stock Performance

Shares of NYSE AI opened at $21.30 on Thursday. The company’s 50 day moving average price is $26.16 and its 200-day moving average price is $26.64. C3.ai has a 52-week low of $18.85 and a 52-week high of $38.30. The company has a market capitalization of $2.66 billion, a P/E ratio of -9.10 and a beta of 1.83.

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

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction dated 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 approximately $203,668.40. The sale 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 Trading of C3.ai

Large investors have recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new stake in shares of C3.ai in the 4th quarter worth approximately $29,000. Toth Financial Advisory Corp lifted its stake in C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in C3.ai during the second quarter valued at about $29,000. Unique Wealth Strategies LLC bought a new position in shares of C3.ai during the second quarter valued at about $28,000. Finally, Blue Trust Inc. increased its holdings in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after buying an additional 615 shares during the period. 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.