Janney Montgomery Scott LLC Takes Position in C3.ai, Inc. (NYSE:AI)

Janney Montgomery Scott LLC purchased a new stake in shares of C3.ai, Inc. (NYSE:AI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 32,390 shares of the company’s stock, valued at approximately $785,000.

Other institutional investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new position in C3.ai in the third quarter valued at about $48,000. Focus Financial Network Inc. grew its stake in C3.ai by 34.5% in the third quarter. Focus Financial Network Inc. now owns 45,293 shares of the company’s stock valued at $1,097,000 after purchasing an additional 11,617 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in C3.ai by 2,501.2% in the third quarter. Pathway Financial Advisers LLC now owns 8,844 shares of the company’s stock valued at $214,000 after purchasing an additional 8,504 shares during the last quarter. Cavalier Investments LLC grew its stake in C3.ai by 6.6% in the third quarter. Cavalier Investments LLC now owns 34,113 shares of the company’s stock valued at $827,000 after purchasing an additional 2,107 shares during the last quarter. Finally, PFG Investments LLC grew its stake in C3.ai by 24.7% in the third quarter. PFG Investments LLC now owns 22,273 shares of the company’s stock valued at $540,000 after purchasing an additional 4,405 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AI shares. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Piper Sandler lowered their price objective on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Piper Sandler Companies restated a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Wedbush lowered their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Finally, Canaccord Genuity Group decreased their target price on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, C3.ai currently has a consensus rating of “Hold” and an average price target of $27.70.

C3.ai Stock Down 1.5 %

Shares of AI opened at $25.99 on Monday. C3.ai, Inc. 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 $24.92 and a two-hundred day simple moving average of $26.00.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The business had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.56) EPS. As a group, research analysts predict that C3.ai, Inc. will post -2.31 EPS for the current fiscal year.

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.