DA Davidson Issues Pessimistic Forecast for C3.ai (NYSE:AI) Stock Price

C3.ai (NYSE:AI) had its price target reduced by equities research analysts at DA Davidson from $40.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price objective indicates a potential upside of 6.64% from the company’s current price.

A number of other research firms have also commented on AI. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday. Morgan Stanley lowered 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 boosted their price target on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Piper Sandler lowered their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, KeyCorp lowered their price target on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday. Five 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 stock. According to data from MarketBeat, C3.ai currently has a consensus rating of “Hold” and an average target price of $31.33.

C3.ai Stock Performance

C3.ai stock opened at $23.44 on Thursday. The business’s 50-day simple moving average is $32.39 and its 200-day simple moving average is $29.54. The firm has a market capitalization of $3.03 billion, a PE ratio of -10.61 and a beta of 1.98. C3.ai has a 52 week low of $18.85 and a 52 week high of $45.08.

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 business had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Research analysts forecast that C3.ai will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other news, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the transaction, the chief executive officer now directly owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. The trade was a 29.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Merel Witteveen sold 11,132 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total value of $389,063.40. Following the completion of the transaction, the vice president now directly owns 4,142 shares in the company, valued at $144,762.90. The trade was a 72.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,643,311 shares of company stock valued at $59,736,620. 33.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in C3.ai by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after purchasing an additional 446,529 shares during the last quarter. Geode Capital Management LLC raised its position in C3.ai by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company’s stock worth $87,128,000 after purchasing an additional 313,066 shares during the last quarter. State Street Corp raised its position in C3.ai by 1.8% in the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after purchasing an additional 38,185 shares during the last quarter. Two Sigma Investments LP bought a new position in C3.ai in the 4th quarter worth approximately $42,306,000. Finally, Man Group plc bought a new position in C3.ai in the 4th quarter worth approximately $38,455,000. 38.96% of the stock is owned by institutional investors and hedge funds.

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.