Janney Montgomery Scott LLC Takes Position in C3.ai, Inc. (NYSE:AI)

Janney Montgomery Scott LLC acquired a new stake in C3.ai, Inc. (NYSE:AI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 32,390 shares of the company’s stock, valued at approximately $785,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JTC Employer Solutions Trustee Ltd purchased a new position in shares of C3.ai in the 3rd quarter valued at about $25,000. Unique Wealth Strategies LLC purchased a new position in shares of C3.ai in the 2nd quarter valued at about $28,000. Blue Trust Inc. raised its position in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of C3.ai during the 2nd quarter worth about $29,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

AI has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. StockNews.com raised C3.ai to a “sell” rating in a research report on Tuesday, November 12th. Piper Sandler Companies reissued a “neutral” rating and set a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Canaccord Genuity Group cut their price target on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Finally, DA Davidson cut their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus price target of $27.70.

C3.ai Stock Performance

C3.ai stock opened at $25.99 on Monday. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $38.30. The stock’s 50 day moving average price is $24.92 and its 200 day moving average price is $26.00.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.56) earnings per share. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.31 EPS for the current fiscal year.

About C3.ai

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.