Analysts Set C3.ai, Inc. (NYSE:AI) Price Target at $35.00

Shares of C3.ai, Inc. (NYSE:AI - Get Free Report) have been given a consensus recommendation of "Hold" by the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $35.00.

Several analysts recently issued reports on AI shares. JPMorgan Chase & Co. cut C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 target price for the company. in a research report on Wednesday, December 11th. StockNews.com upgraded shares of C3.ai to a "sell" rating in a research report on Tuesday, November 26th. Bank of America dropped their target price on shares of C3.ai from $24.00 to $20.00 and set an "underperform" rating for the company in a research report on Thursday, September 5th. KeyCorp cut shares of C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 target price for the company. in a research note on Thursday, December 19th. Finally, Piper Sandler Companies reissued a "neutral" rating and issued a $24.00 target price on shares of C3.ai in a report on Thursday, September 5th.

C3.ai Stock Performance

Shares of NYSE AI traded up $0.25 during midday trading on Tuesday, reaching $35.71. The stock had a trading volume of 2,677,638 shares, compared to its average volume of 6,057,368. C3.ai has a 12-month low of $18.85 and a 12-month high of $45.08. The stock has a 50-day moving average of $31.93 and a 200-day moving average of $28.09. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of -16.16 and a beta of 2.00.

Insider Activity

In other C3.ai news, CFO Hitesh Lath sold 3,949 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total transaction of $167,279.64. Following the sale, the chief financial officer now owns 851 shares of the company's stock, valued at approximately $36,048.36. The trade was a 82.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $5,250,000.00. Following the completion of the transaction, the director now owns 546,495 shares of the company's stock, valued at $22,952,790. This trade represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 644,988 shares of company stock worth $27,597,453. Insiders own 33.54% of the company's stock.

Hedge Funds Weigh In On C3.ai

Several institutional investors and hedge funds have recently modified their holdings of AI. JTC Employer Solutions Trustee Ltd purchased a new stake in C3.ai during the third quarter worth $25,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company's stock valued at $30,000 after acquiring an additional 795 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of C3.ai in the second quarter worth approximately $41,000. Quest Partners LLC raised its stake in C3.ai by 9,033.3% in the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company's stock valued at $40,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in C3.ai in the 3rd quarter valued at $48,000. Institutional investors and hedge funds 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.