C3.ai (NYSE:AI) Stock Rating Upgraded by StockNews.com

C3.ai (NYSE:AI) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Tuesday.

A number of other equities research analysts also recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Canaccord Genuity Group cut their target price on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Morgan Stanley cut their price target on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. Finally, Piper Sandler cut their price objective on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.70.

C3.ai Price Performance

Shares of NYSE:AI opened at $36.41 on Tuesday. The business’s 50-day moving average is $26.82 and its 200-day moving average is $26.58. C3.ai has a 1 year low of $18.85 and a 1 year high of $39.88. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of -15.97 and a beta of 1.80.

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

Hedge Funds Weigh In On C3.ai

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in C3.ai by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after acquiring an additional 317,768 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of C3.ai by 8.8% during the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after buying an additional 178,870 shares during the last quarter. State Street Corp boosted its stake in C3.ai by 1.8% during the 3rd 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. boosted its position in shares of C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of C3.ai by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after acquiring an additional 1,929 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.