C3.ai (NYSE:AI) Raised to “Outperform” at Oppenheimer

C3.ai (NYSE:AIGet Free Report) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a $40.00 price objective on the stock. Oppenheimer’s price target indicates a potential upside of 42.68% from the company’s current price.

Other equities analysts also recently issued reports about the company. Wedbush dropped their price objective on C3.ai from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, September 7th. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 7th. Piper Sandler Companies cut their target price on shares of C3.ai from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, September 8th. Piper Sandler lowered their price target on shares of C3.ai from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, September 8th. Finally, JMP Securities lifted their price objective on C3.ai from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.73.

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C3.ai Stock Performance

NYSE:AI opened at $28.04 on Tuesday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -11.98 and a beta of 1.54. C3.ai has a 1 year low of $10.16 and a 1 year high of $48.87. The stock has a fifty day moving average price of $26.08 and a two-hundred day moving average price of $31.34.

C3.ai (NYSE:AIGet Free Report) last announced its quarterly earnings data on Wednesday, September 6th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.08. C3.ai had a negative net margin of 99.42% and a negative return on equity of 27.78%. The firm had revenue of $72.36 million during the quarter, compared to analysts’ expectations of $71.56 million. During the same quarter last year, the business earned ($0.67) earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, analysts predict that C3.ai will post -2.24 EPS for the current year.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in C3.ai by 98.8% in the first quarter. JPMorgan Chase & Co. now owns 83,970 shares of the company’s stock valued at $1,907,000 after purchasing an additional 41,723 shares during the period. Raymond James & Associates boosted its holdings in shares of C3.ai by 27.9% in the 1st quarter. Raymond James & Associates now owns 93,029 shares of the company’s stock valued at $2,112,000 after purchasing an additional 20,295 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of C3.ai by 33.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,167 shares of the company’s stock valued at $458,000 after buying an additional 5,025 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of C3.ai by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 742,737 shares of the company’s stock worth $16,861,000 after buying an additional 33,060 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in shares of C3.ai in the 1st quarter worth $44,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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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.

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Analyst Recommendations for C3.ai (NYSE:AI)

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