C3.ai (NYSE:AI) Given New $32.00 Price Target at Morgan Stanley

C3.ai (NYSE:AI) had its price target increased by Morgan Stanley from $21.00 to $32.00 in a research report report published on Tuesday,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

A number of other research firms have also weighed in on AI. Piper Sandler Companies reiterated a “neutral” rating and set a $24.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Piper Sandler decreased their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Canaccord Genuity Group dropped their price objective on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Finally, DA Davidson raised their price target on shares of C3.ai from $20.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus target price of $35.55.

C3.ai Stock Performance

Shares of AI stock opened at $38.24 on Tuesday. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The firm has a market capitalization of $4.86 billion, a PE ratio of -17.30 and a beta of 1.99. The stock’s 50-day simple moving average is $30.08 and its 200-day simple moving average is $27.54.

Insider Buying and Selling at C3.ai

In related news, Director Stephen M. Ward, Jr. sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the director now directly owns 546,495 shares in the company, valued at approximately $22,952,790. The trade was a 18.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the transaction, the chief financial officer now owns 851 shares in the company, valued at $35,742. The trade was a 93.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 33.54% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after purchasing an additional 178,870 shares in the last quarter. State Street Corp increased its holdings in shares of C3.ai by 1.8% in the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after purchasing an additional 38,185 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after buying an additional 92,280 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in C3.ai by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after buying an additional 1,929 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in C3.ai by 11.5% in the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock valued at $5,829,000 after buying an additional 20,753 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Company Profile

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.