C3.ai, Inc. (NYSE:AI) Given Average Recommendation of “Hold” by Analysts

Shares of C3.ai, Inc. (NYSE:AI) have been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $31.33.

Several research firms have weighed in on AI. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Northland Securities upped their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. downgraded shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Wednesday, December 11th. KeyCorp lowered their price objective on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley lowered their price objective on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th.

Insider Activity at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,949 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total value of $167,279.64. Following the sale, the chief financial officer now owns 851 shares in the company, valued at approximately $36,048.36. This represents a 82.27 % 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 this link. Also, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $430,500. This trade represents a 98.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,501,972 shares of company stock worth $53,818,532 over the last 90 days. 33.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of C3.ai during the fourth quarter valued at approximately $3,996,000. PDT Partners LLC purchased a new stake in shares of C3.ai during the third quarter valued at approximately $1,624,000. Janney Montgomery Scott LLC grew its holdings in shares of C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock valued at $1,905,000 after buying an additional 22,949 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of C3.ai during the fourth quarter valued at approximately $2,015,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Up 3.1 %

C3.ai stock opened at $21.57 on Friday. The company has a market capitalization of $2.78 billion, a PE ratio of -9.76 and a beta of 2.03. The firm has a fifty day simple moving average of $29.62 and a two-hundred day simple moving average of $29.36. C3.ai has a twelve month low of $18.85 and a twelve month high of $45.08.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The business had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. As a group, equities analysts expect that C3.ai will post -2.44 earnings per share 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.