C3.ai (NYSE:AI) Shares Up 4.2% – Should You Buy?

C3.ai, Inc. (NYSE:AI) shot up 4.2% during mid-day trading on Wednesday . The stock traded as high as $25.49 and last traded at $25.48. 975,828 shares changed hands during trading, a decline of 83% from the average session volume of 5,633,968 shares. The stock had previously closed at $24.45.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AI shares. Bank of America reduced their target price on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Morgan Stanley reduced their price objective on C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. Piper Sandler dropped their target price on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Three 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. Based on data from MarketBeat.com, C3.ai has a consensus rating of “Hold” and an average price target of $27.70.

C3.ai Trading Up 4.8 %

The firm has a market cap of $3.20 billion, a P/E ratio of -10.99 and a beta of 1.81. The business’s 50-day moving average is $23.77 and its two-hundred day moving average is $25.54.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.08. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The firm had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. During the same quarter in the prior year, the firm earned ($0.56) EPS. C3.ai’s quarterly revenue was up 20.5% on a year-over-year basis. On average, analysts anticipate that C3.ai, Inc. will post -2.32 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in shares of C3.ai by 2.1% in the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock valued at $621,000 after acquiring an additional 432 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of C3.ai by 4.3% in the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock valued at $323,000 after acquiring an additional 462 shares in the last quarter. Forum Financial Management LP boosted its holdings in shares of C3.ai by 4.4% in the second quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock valued at $373,000 after acquiring an additional 539 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of C3.ai by 0.5% in the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock valued at $3,630,000 after acquiring an additional 572 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of C3.ai by 6.2% in the first quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock valued at $277,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

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.