C3.ai (NYSE:AI) Price Target Lowered to $21.00 at KeyCorp

C3.ai (NYSE:AI - Get Free Report) had its target price dropped by research analysts at KeyCorp from $29.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the stock. KeyCorp's price target would suggest a potential downside of 4.76% from the stock's current price.

A number of other equities research analysts have also recently issued reports on AI. Morgan Stanley dropped their price objective on C3.ai from $32.00 to $30.00 and set an "underweight" rating on the stock in a research note on Thursday. Northland Securities lifted their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. StockNews.com raised C3.ai to a "sell" rating in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research report on Thursday. Finally, Canaccord Genuity Group lifted their price objective on C3.ai from $23.00 to $40.00 and gave the company a "hold" rating in a report on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $31.33.

C3.ai Stock Performance

NYSE AI traded down $1.40 during trading on Thursday, hitting $22.05. The stock had a trading volume of 6,280,748 shares, compared to its average volume of 5,219,368. C3.ai has a 12 month low of $18.85 and a 12 month high of $45.08. The company's 50-day moving average price is $32.39 and its two-hundred day moving average price is $29.61. The company has a market capitalization of $2.85 billion, a PE ratio of -9.98 and a beta of 1.98.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. As a group, equities analysts anticipate that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling at C3.ai

In other news, VP Merel Witteveen sold 11,132 shares of C3.ai stock in a transaction on Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the transaction, the vice president now owns 4,142 shares in the company, valued at approximately $144,762.90. The trade was a 72.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the director now directly owns 546,495 shares of the company's stock, valued at approximately $22,952,790. This represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock worth $59,736,620 over the last quarter. Corporate insiders own 33.54% of the company's stock.

Institutional Trading of C3.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AI. Charles Schwab Investment Management Inc. lifted its holdings in C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock valued at $20,460,000 after buying an additional 92,280 shares during the period. PDT Partners LLC bought a new position in shares of C3.ai during the 3rd quarter worth about $1,624,000. Janney Montgomery Scott LLC boosted its holdings in C3.ai by 70.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after acquiring an additional 22,949 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of C3.ai during the fourth quarter valued at approximately $2,015,000. Finally, Friedenthal Financial acquired a new position in C3.ai during the fourth quarter worth $757,000. 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.