C3.ai, Inc. (NYSE:AI) Receives Consensus Recommendation of “Hold” from Brokerages

C3.ai, Inc. (NYSE:AI) has earned an average recommendation of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $31.33.

Several equities analysts have weighed in on AI shares. JMP Securities lifted their target price 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. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. KeyCorp cut their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Wednesday, December 11th.

C3.ai Stock Performance

C3.ai stock opened at $22.56 on Friday. C3.ai has a 52 week low of $18.85 and a 52 week high of $45.08. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -10.21 and a beta of 2.03. The company has a 50 day moving average price of $31.01 and a 200 day moving average price of $29.47.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The business had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Equities analysts forecast that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Activity at C3.ai

In other news, Director Jim H. Snabe sold 499,700 shares of C3.ai stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $430,500. The trade was a 98.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total value of $12,692,466.07. Following the transaction, the chief executive officer now directly owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. This represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,643,311 shares of company stock valued at $59,736,620. Corporate insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP bought a new stake in shares of C3.ai in the fourth quarter valued at about $42,306,000. Man Group plc acquired a new position in C3.ai in the 4th quarter valued at approximately $38,455,000. Two Sigma Advisers LP bought a new stake in shares of C3.ai in the 4th quarter worth approximately $30,725,000. Renaissance Technologies LLC grew its holdings in shares of C3.ai by 1,242.5% during the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after purchasing an additional 664,731 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of C3.ai by 3.6% during 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 in the last quarter. 38.96% of the stock is owned by 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.