C3.ai, Inc. (NYSE:AI) Receives Average Recommendation of "Hold" from Brokerages

C3.ai, Inc. (NYSE:AI - Get Free Report) has been given an average rating of "Hold" by the fourteen research firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.33.

A number of research firms have weighed in on AI. Northland Securities raised their price target on C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Morgan Stanley reduced their price objective on C3.ai from $32.00 to $30.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. lowered C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 target price for the company. in a research note on Wednesday, December 11th. JMP Securities lifted their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Tuesday, December 10th. Finally, KeyCorp lowered their price objective on shares of C3.ai from $29.00 to $21.00 and set an "underweight" rating for the company in a report on Thursday, February 27th.

C3.ai Price Performance

Shares of NYSE:AI traded up $0.66 on Friday, hitting $21.58. The company's stock had a trading volume of 2,164,213 shares, compared to its average volume of 5,144,612. The company has a market capitalization of $2.79 billion, a PE ratio of -9.77 and a beta of 2.03. The company has a 50-day simple moving average of $30.46 and a 200 day simple moving average of $29.45. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08.

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C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The company had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. On average, equities research analysts expect that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the completion of the transaction, the chief executive officer now owns 1,756,390 shares of the company's stock, valued at approximately $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard C. Levin sold 12,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the sale, the director now directly owns 161,664 shares in the company, valued at approximately $4,824,053.76. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,506,972 shares of company stock valued at $54,010,382. 33.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On C3.ai

Institutional investors have recently modified their holdings of the stock. Brown Lisle Cummings Inc. boosted its stake in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd purchased a new position in C3.ai in the fourth quarter worth about $29,000. Russell Investments Group Ltd. lifted its stake in shares of C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after buying an additional 456 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of C3.ai in the fourth quarter worth approximately $33,000. Finally, CENTRAL TRUST Co purchased a new stake in shares of C3.ai during the fourth quarter valued at approximately $34,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.