C3.ai (NYSE:AI) Given New $21.00 Price Target at KeyCorp

C3.ai (NYSE:AI) had its target price reduced by KeyCorp from $29.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. KeyCorp’s target price suggests a potential downside of 17.28% from the company’s previous close.

A number of other analysts have also issued reports on the company. Northland Securities raised their price target on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Morgan Stanley decreased their price target on C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday. JMP Securities raised their price target on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Piper Sandler decreased their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, DA Davidson upgraded C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Five 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 to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

C3.ai Stock Down 4.0 %

Shares of AI traded down $1.05 during trading hours on Thursday, reaching $25.39. 7,029,987 shares of the company traded hands, compared to its average volume of 4,933,028. The stock has a market capitalization of $3.28 billion, a PE ratio of -11.60 and a beta of 1.98. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The stock has a fifty day simple moving average of $32.88 and a 200 day simple moving average of $29.59.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The company had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. Research analysts predict that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Transactions at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total value of $12,692,466.07. Following the transaction, the chief executive officer now owns 1,756,390 shares in the company, valued at $54,395,398.30. The trade was a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $5,250,000.00. Following the sale, the director now owns 546,495 shares in the company, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock valued at $59,736,620 over the last three months. Company insiders own 33.54% of the company’s stock.

Institutional Investors Weigh In On C3.ai

A number of large investors have recently bought and sold shares of the business. Brown Lisle Cummings Inc. boosted its position in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the last quarter. R Squared Ltd acquired a new stake in shares of C3.ai in the 4th quarter valued at $29,000. Russell Investments Group Ltd. increased its stake in shares of C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after buying an additional 456 shares during the period. WealthTrak Capital Management LLC acquired a new stake in shares of C3.ai in the 4th quarter valued at $33,000. Finally, CENTRAL TRUST Co acquired a new stake in shares of C3.ai in the 4th quarter valued at $34,000. 38.96% of the stock is currently owned by 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.