C3.ai, Inc. (NYSE:AI) Receives Average Recommendation of “Reduce” from Analysts

Shares of C3.ai, Inc. (NYSE:AIGet Free Report) have earned a consensus rating of “Reduce” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.9231.

A number of research analysts recently commented on the company. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a research note on Thursday. Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $15.00 price target on shares of C3.ai in a research note on Thursday. UBS Group boosted 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. Finally, Wolfe Research reissued an “underperform” rating and set a $6.00 target price on shares of C3.ai in a research note on Thursday, February 26th.

Get Our Latest Stock Report on C3.ai

Insiders Place Their Bets

In other C3.ai news, CEO Stephen Bradley Ehikian sold 52,194 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $8.22, for a total transaction of $429,034.68. Following the completion of the transaction, the chief executive officer owned 721,485 shares of the company’s stock, valued at approximately $5,930,606.70. The trade was a 6.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 369,624 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $8.72, for a total value of $3,223,121.28. Following the transaction, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at approximately $6,298,996.64. The trade was a 33.85% 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. Over the last 90 days, insiders sold 1,610,039 shares of company stock valued at $13,935,574. 26.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC acquired a new position in shares of C3.ai in the first quarter valued at approximately $26,000. Larson Financial Group LLC increased its stake in shares of C3.ai by 683.6% in the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after buying an additional 1,292 shares during the period. Farther Finance Advisors LLC increased its stake in shares of C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the period. Parallel Advisors LLC increased its stake in shares of C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after buying an additional 801 shares during the period. Finally, Comerica Bank increased its stake in shares of C3.ai by 839.1% in the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after buying an additional 2,165 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

More C3.ai News

Here are the key news stories impacting C3.ai this week:

C3.ai Stock Down 1.4%

AI stock opened at $10.43 on Tuesday. The company has a market cap of $1.52 billion, a PE ratio of -3.12 and a beta of 2.04. The business has a 50-day simple moving average of $9.19 and a 200 day simple moving average of $11.13. C3.ai has a 52 week low of $7.68 and a 52 week high of $30.11.

C3.ai (NYSE:AIGet Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. The business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.60 million. C3.ai had a negative return on equity of 60.20% and a negative net margin of 187.95%.C3.ai’s revenue for the quarter was down 52.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. On average, analysts anticipate that C3.ai will post -2.47 EPS for the current fiscal year.

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.

See Also

Analyst Recommendations for C3.ai (NYSE:AI)

Receive News & Ratings for C3.ai Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C3.ai and related companies with MarketBeat.com's FREE daily email newsletter.