Analysts Set C3.ai, Inc. (NYSE:AI) PT at $10.67

C3.ai, Inc. (NYSE:AI) has been given an average recommendation of “Reduce” by the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $10.6667.

AI has been the subject of several research analyst reports. DA Davidson restated an “underperform” rating and set a $7.00 price target on shares of C3.ai in a report on Thursday, June 4th. Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a 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 report on Thursday, June 4th. UBS Group raised their target price on shares of C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Finally, Weiss Ratings cut shares of C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 16th.

C3.ai Stock Up 0.4%

AI opened at $8.19 on Wednesday. The company has a market capitalization of $1.27 billion, a PE ratio of -2.45 and a beta of 2.06. The firm has a 50-day simple moving average of $9.61 and a two-hundred day simple moving average of $9.95. C3.ai has a 52 week low of $7.68 and a 52 week high of $26.59.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.05. The firm had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.60 million. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business’s revenue was down 52.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) earnings per share. As a group, sell-side 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 C3.ai stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.11, for a total value 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 filing with the SEC, which is available at this link. 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 owned 651,130 shares in the company, valued at approximately $6,153,178.50. This trade represents a 7.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,155,144 shares of company stock worth $11,420,651 over the last 90 days. 26.50% of the stock is owned by insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in C3.ai by 55.1% during the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after acquiring an additional 1,166,302 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of C3.ai by 77.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after acquiring an additional 785,508 shares during the period. Two Sigma Investments LP bought a new stake in shares of C3.ai in the 3rd quarter worth about $13,379,000. Voloridge Investment Management LLC bought a new stake in shares of C3.ai in the 4th quarter worth about $9,183,000. Finally, Federated Hermes Inc. boosted its stake in shares of C3.ai by 93,578.8% during the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock worth $9,105,000 after purchasing an additional 674,703 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.