Brokerages Set C3.ai, Inc. (NYSE:AI) PT at $31.30

C3.ai, Inc. (NYSE:AI) has been given an average recommendation of “Hold” by the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $31.30.

A number of research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a research report on Wednesday, May 29th. Northland Securities upgraded shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research report on Thursday, May 30th. Piper Sandler lowered their target price on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Canaccord Genuity Group lowered their target price on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Finally, Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th.

C3.ai Price Performance

NYSE AI opened at $28.56 on Tuesday. C3.ai has a 12 month low of $20.23 and a 12 month high of $44.90. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -12.21 and a beta of 1.83. The company’s fifty day moving average price is $26.91 and its two-hundred day moving average price is $27.13.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.18. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The firm had revenue of $86.59 million for the quarter, compared to the consensus estimate of $84.45 million. As a group, analysts anticipate that C3.ai will post -2.35 EPS for the current year.

Insider Transactions at C3.ai

In other news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the transaction, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 34.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of C3.ai during the third quarter worth approximately $26,000. ICA Group Wealth Management LLC acquired a new stake in shares of C3.ai during the fourth quarter worth approximately $29,000. Toth Financial Advisory Corp boosted its holdings in shares of C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares during the period. Comerica Bank boosted its holdings in shares of C3.ai by 305.1% during the first quarter. Comerica Bank now owns 1,203 shares of the company’s stock worth $33,000 after purchasing an additional 906 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of C3.ai by 87.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock worth $39,000 after purchasing an additional 632 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.