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

Shares of C3.ai, Inc. (NYSE:AI) have earned a consensus rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Two equities 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 issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $27.70.

Several analysts have recently issued reports on AI shares. Oppenheimer restated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Morgan Stanley decreased their price target on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note 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. Canaccord Genuity Group reduced their price objective on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, DA Davidson lowered their target price on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AI. Geode Capital Management LLC raised its holdings in C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after acquiring an additional 178,870 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in shares of C3.ai in the 3rd quarter worth approximately $1,955,000. State Street Corp raised its position in shares of 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 acquiring an additional 38,185 shares in the last quarter. Janus Henderson Group PLC lifted its stake in C3.ai by 21.3% during the third quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,160 shares during the last quarter. Finally, Holocene Advisors LP increased its stake in C3.ai by 98.4% during the third quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock valued at $1,836,000 after purchasing an additional 37,594 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Trading Up 2.2 %

Shares of C3.ai stock opened at $37.18 on Friday. The company has a 50-day moving average of $27.35 and a two-hundred day moving average of $26.73. C3.ai has a 12-month low of $18.85 and a 12-month high of $39.88. The stock has a market cap of $4.72 billion, a PE ratio of -16.31 and a beta of 1.80.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share 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 for the quarter, compared to analyst estimates of $86.94 million. During the same quarter in the prior year, the company earned ($0.56) earnings per share. C3.ai’s revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts forecast that C3.ai will post -2.31 EPS for the current fiscal year.

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.