C3.ai (NYSE:AI) Price Target Cut to $18.00 by Analysts at DA Davidson

C3.ai (NYSE:AI - Get Free Report) had its price objective reduced by equities research analysts at DA Davidson from $25.00 to $18.00 in a research report issued on Monday, MarketBeat.com reports. The firm currently has a "neutral" rating on the stock. DA Davidson's price objective points to a potential downside of 7.13% from the company's previous close.

Other equities research analysts have also issued reports about the company. Morgan Stanley decreased their price target on C3.ai from $32.00 to $30.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group reduced their price objective on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. KeyCorp reduced their price target on shares of C3.ai from $29.00 to $21.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. Piper Sandler reduced their target price on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Five investment 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $29.58.

C3.ai Price Performance

Shares of NYSE AI traded up $0.03 during trading on Monday, hitting $19.38. The stock had a trading volume of 2,348,902 shares, compared to its average volume of 5,204,859. The firm has a fifty day moving average of $23.20 and a two-hundred day moving average of $28.90. C3.ai has a 12 month low of $17.03 and a 12 month high of $45.08. The company has a market capitalization of $2.57 billion, a PE ratio of -8.77 and a beta of 2.01.

C3.ai (NYSE:AI - Get Free Report) last issued its earnings results 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 analysts' expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, equities analysts expect that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total value of $264,149.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,446,967 shares of company stock worth $37,175,326. Company insiders own 33.54% of the company's stock.

Hedge Funds Weigh In On C3.ai

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of C3.ai by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock valued at $32,128,000 after acquiring an additional 88,750 shares during the period. SBI Securities Co. Ltd. bought a new stake in C3.ai in the fourth quarter worth about $3,996,000. Vanguard Group Inc. raised its holdings in shares of C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after acquiring an additional 446,529 shares during the period. Janney Montgomery Scott LLC increased its position in C3.ai by 70.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after purchasing an additional 22,949 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of C3.ai in the 4th quarter valued at $2,015,000. 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.