C3.ai, Inc. (NYSE:AI) Receives Average Recommendation of “Hold” from Brokerages

C3.ai, Inc. (NYSE:AI) has been given an average rating of “Hold” by the twelve analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.30.

Several research firms have weighed in on AI. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, May 30th. Piper Sandler dropped their price target on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Canaccord Genuity Group dropped their price target on C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Wedbush reiterated an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a research note on Wednesday, May 29th. Finally, Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th.

C3.ai Trading Down 1.2 %

C3.ai stock opened at $28.61 on Tuesday. C3.ai has a 12 month low of $20.23 and a 12 month high of $44.90. The stock’s 50 day moving average is $26.55 and its 200-day moving average is $27.13. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -12.23 and a beta of 1.83.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.18. The business had revenue of $86.59 million for the quarter, compared to the consensus estimate of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. As a group, equities research analysts predict that C3.ai will post -2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Hitesh Lath sold 3,005 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the transaction, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 34.00% of the company’s stock.

Institutional Trading of C3.ai

Institutional investors have recently added to or reduced their stakes in the business. Orion Capital Management LLC purchased a new stake in C3.ai during the third quarter valued at about $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of C3.ai during the fourth quarter worth about $29,000. Toth Financial Advisory Corp boosted its holdings in shares of C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares during the period. Comerica Bank boosted its holdings in shares of C3.ai by 305.1% during the first quarter. Comerica Bank now owns 1,203 shares of the company’s stock worth $33,000 after purchasing an additional 906 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of C3.ai by 87.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock worth $39,000 after purchasing an additional 632 shares during the period. 38.96% of the stock is currently owned by hedge funds and other 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.