C3.ai, Inc. (NYSE:AI) Receives $10.09 Average Price Target from Brokerages

by · The Markets Daily

C3.ai, Inc. (NYSE:AI – Get Free Report) has earned an average recommendation of “Reduce” from the eleven research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $10.0909.

AI has been the topic of a number of research analyst reports. UBS Group upped their target price on C3.ai from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Canaccord Genuity Group lifted their price target on C3.ai from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday, June 4th. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a report on Thursday, June 4th. DA Davidson restated an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $15.00 target price on shares of C3.ai in a research note on Thursday, June 4th.

View Our Latest Stock Analysis on C3.ai

C3.ai Stock Performance

C3.ai stock opened at $9.85 on Friday. The stock has a market cap of $1.53 billion, a P/E ratio of -2.95 and a beta of 2.08. C3.ai has a fifty-two week low of $7.68 and a fifty-two week high of $20.22. The firm’s fifty day moving average price is $9.50 and its 200-day moving average price is $9.49.

C3.ai (NYSE:AI – Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.60 million. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The firm’s revenue was down 52.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) earnings per share. Sell-side analysts predict that C3.ai will post -2.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Stephen Bradley Ehikian sold 50,542 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $9.45, for a total value of $477,621.90. Following the transaction, the chief executive officer owned 651,130 shares of the company’s stock, valued at $6,153,178.50. This represents a 7.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Thomas M. Siebel sold 472,005 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.11, for a total transaction of $5,243,975.55. Following the sale, the chief executive officer owned 722,362 shares in the company, valued at approximately $8,025,441.82. This trade represents a 39.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,259,110 shares of company stock valued at $13,281,297 in the last quarter. Corporate insiders own 26.50% of the company’s stock.

Institutional Investors Weigh In On C3.ai

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of C3.ai by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock worth $195,055,000 after acquiring an additional 108,011 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of C3.ai in the 1st quarter valued at $934,000. Bank of America Corp DE boosted its stake in shares of C3.ai by 55.1% in the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after purchasing an additional 1,166,302 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of C3.ai by 67.3% during the 1st quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock valued at $10,233,000 after purchasing an additional 488,710 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of C3.ai by 247.5% during the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock valued at $5,545,000 after purchasing an additional 469,057 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About C3.ai

(Get Free Report)

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.

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