C3.ai (NYSE:AI) Sets New 52-Week High on Analyst Upgrade

C3.ai, Inc. (NYSE:AI)’s stock price reached a new 52-week high on Friday after DA Davidson raised their price target on the stock from $20.00 to $35.00. DA Davidson currently has a neutral rating on the stock. C3.ai traded as high as $40.41 and last traded at $40.03, with a volume of 4808984 shares trading hands. The stock had previously closed at $37.49.

A number of other analysts have also commented on AI. Morgan Stanley dropped their price target on C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. Canaccord Genuity Group dropped their price target on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Finally, StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.20.

Hedge Funds Weigh In On C3.ai

Institutional investors and hedge funds have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd bought a new position in shares of C3.ai during the third quarter valued at $25,000. Blue Trust Inc. increased its holdings in C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after buying an additional 615 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in C3.ai in the 2nd quarter worth about $28,000. Hobbs Group Advisors LLC bought a new stake in C3.ai in the 2nd quarter worth about $29,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in C3.ai by 311.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after buying an additional 795 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

C3.ai Trading Up 8.1 %

The firm has a fifty day moving average of $28.74 and a 200 day moving average of $27.12. The company has a market capitalization of $5.15 billion, a P/E ratio of -17.77 and a beta of 2.00.

C3.ai (NYSE:AI) last released its quarterly earnings data 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 return on equity of 31.28% and a negative net margin of 85.47%. The company had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.94 million. During the same period last year, the company earned ($0.56) EPS. C3.ai’s revenue for the quarter was up 20.5% on a year-over-year basis. Sell-side analysts anticipate that C3.ai, Inc. 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.