Brokerages Set C3.ai, Inc. (NYSE:AI) Target Price at $27.70

Shares of C3.ai, Inc. (NYSE:AI) have earned a consensus rating of “Hold” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $27.70.

Several research analysts have issued reports on the company. Wedbush reduced their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Bank of America reduced their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler cut their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a research note on Thursday, September 5th.

C3.ai Price Performance

NYSE AI opened at $27.24 on Thursday. The firm has a market cap of $3.40 billion, a PE ratio of -11.64 and a beta of 1.81. C3.ai has a one year low of $18.85 and a one year high of $38.30. The stock’s 50 day simple moving average is $23.82 and its 200 day simple moving average is $25.55.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The business had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. C3.ai’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.56) EPS. As a group, equities analysts expect that C3.ai will post -2.32 earnings per share for the current year.

Institutional Trading of C3.ai

Hedge funds have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp raised its stake in C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 900 shares during the period. Hobbs Group Advisors LLC acquired a new stake in C3.ai during the 2nd quarter worth $29,000. Unique Wealth Strategies LLC bought a new position in C3.ai during the 2nd quarter worth about $28,000. Blue Trust Inc. increased its holdings in 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 purchasing an additional 615 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in 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 purchasing an additional 795 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

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.