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

C3.ai, Inc. (NYSE:AI) has been assigned an average recommendation of “Reduce” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $12.9231.

A number of equities research analysts have weighed in on AI shares. Weiss Ratings lowered C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 16th. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Morgan Stanley increased their target price on C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, June 4th. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a research report on Thursday, June 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th.

C3.ai Price Performance

NYSE:AI opened at $9.07 on Friday. The firm has a 50-day moving average of $9.68 and a two-hundred day moving average of $10.50. The stock has a market cap of $1.41 billion, a P/E ratio of -2.71 and a beta of 2.06. C3.ai has a 1-year low of $7.68 and a 1-year high of $30.11.

C3.ai (NYSE:AI) last announced its earnings results 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. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was down 52.5% compared to the same quarter last year. As a group, equities analysts expect that C3.ai will post -2.28 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other C3.ai news, 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 completion of the transaction, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at $8,025,441.82. This trade represents a 39.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, CEO Stephen Bradley Ehikian sold 50,542 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.45, for a total transaction of $477,621.90. Following the completion of the sale, the chief executive officer directly owned 651,130 shares of the company’s stock, valued at $6,153,178.50. The trade was a 7.20% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,646,611 shares of company stock worth $15,534,492 in the last ninety days. 26.50% of the stock is owned by insiders.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently bought and sold shares of AI. NewEdge Advisors LLC raised its stake in C3.ai by 48.7% during the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after buying an additional 800 shares in the last quarter. Parallel Advisors LLC lifted its holdings in C3.ai by 76.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares during the last quarter. BOKF NA grew its position in shares of C3.ai by 20.7% in the 3rd quarter. BOKF NA now owns 4,709 shares of the company’s stock worth $82,000 after acquiring an additional 809 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of C3.ai by 66.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares in the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of C3.ai by 58.0% in the 3rd quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock valued at $41,000 after acquiring an additional 863 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Company Profile

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.