C3.ai, Inc. (NYSE:AI) Given Consensus Rating of “Hold” by Brokerages

Shares of C3.ai, Inc. (NYSE:AI) have been assigned an average rating of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Two 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 issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $27.70.

A number of research firms recently issued reports on AI. DA Davidson decreased their target price on C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. JMP Securities restated a “market outperform” rating and set a $40.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Bank of America lowered their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Finally, Wedbush reduced their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

C3.ai Trading Up 1.6 %

NYSE:AI opened at $25.03 on Monday. The company has a market cap of $3.18 billion, a P/E ratio of -10.98 and a beta of 1.80. C3.ai has a twelve month low of $18.85 and a twelve month high of $38.30. The company’s 50-day moving average price is $24.12 and its 200-day moving average price is $25.68.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AI. KG&L Capital Management LLC raised its stake in shares of C3.ai by 34.6% in the 3rd quarter. KG&L Capital Management LLC now owns 21,468 shares of the company’s stock valued at $520,000 after acquiring an additional 5,520 shares in the last quarter. Forum Financial Management LP raised its position in shares of C3.ai by 12.3% in the third quarter. Forum Financial Management LP now owns 14,484 shares of the company’s stock valued at $351,000 after purchasing an additional 1,591 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of C3.ai in the third quarter worth $785,000. Arcadia Investment Management Corp MI bought a new stake in shares of C3.ai during the 3rd quarter worth $48,000. Finally, Focus Financial Network Inc. grew its stake in C3.ai by 34.5% in the 3rd quarter. Focus Financial Network Inc. now owns 45,293 shares of the company’s stock valued at $1,097,000 after buying an additional 11,617 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.