C3.ai (NYSE:AI) Receives Neutral Rating from Piper Sandler Companies

Piper Sandler Companies reissued their neutral rating on shares of C3.ai (NYSE:AI) in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has a $24.00 price target on the stock.

AI has been the subject of several other research reports. Wedbush reissued an outperform rating and set a $40.00 price target on shares of C3.ai in a research report on Wednesday, May 29th. Morgan Stanley boosted their target price on shares of C3.ai from $21.00 to $23.00 and gave the company an underweight rating in a research note on Thursday, May 30th. Piper Sandler decreased their price target on shares of C3.ai from $33.00 to $29.00 and set a neutral rating on the stock in a research note on Thursday, May 30th. Needham & Company LLC reissued a hold rating on shares of C3.ai in a research report on Thursday, May 30th. Finally, Northland Capmk raised shares of C3.ai from a hold rating to a strong-buy rating in a research note on Thursday, May 30th. Three 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 to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $27.70.

C3.ai Stock Down 8.2 %

NYSE:AI opened at $21.12 on Thursday. The company has a market capitalization of $2.64 billion, a PE ratio of -9.03 and a beta of 1.83. C3.ai has a 52-week low of $18.85 and a 52-week high of $38.30. The stock has a fifty day simple moving average of $26.31 and a 200-day simple moving average of $26.69.

C3.ai (NYSE:AI) last announced its 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 company had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.56) earnings per share. As a group, equities analysts anticipate that C3.ai will post -2.35 earnings per share for the current year.

Insider Transactions at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the transaction, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at $203,668.40. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 34.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp boosted its position in shares of C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 900 shares during the period. Unique Wealth Strategies LLC purchased a new position in C3.ai in the 2nd quarter worth approximately $28,000. Blue Trust Inc. grew its position in C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of C3.ai during the fourth quarter valued at approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of C3.ai during the second quarter worth $29,000. 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.