C3.ai (NYSE:AI - Free Report) had its price target trimmed by Morgan Stanley from $32.00 to $30.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an underweight rating on the stock.
Several other research firms have also weighed in on AI. StockNews.com raised C3.ai to a "sell" rating in a research report on Tuesday, November 26th. KeyCorp cut shares of C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 price target on the stock. in a report on Thursday, December 19th. Piper Sandler lowered their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday. Northland Securities boosted their price target on C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, December 10th. Finally, JMP Securities raised their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a "market outperform" rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, C3.ai has a consensus rating of "Hold" and an average target price of $31.33.
Check Out Our Latest Analysis on AI
C3.ai Stock Down 6.0 %
Shares of NYSE AI traded down $1.40 during mid-day trading on Thursday, hitting $22.05. 5,663,335 shares of the company traded hands, compared to its average volume of 5,219,224. The business has a 50 day moving average of $32.39 and a two-hundred day moving average of $29.61. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -9.98 and a beta of 1.98. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08.
C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. As a group, research analysts anticipate that C3.ai will post -2.44 EPS for the current year.
Insider Activity at C3.ai
In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction 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 sale, the chief executive officer now owns 1,756,390 shares in the company, valued at $54,395,398.30. The trade was a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the director now directly owns 546,495 shares in the company, valued at approximately $22,952,790. The trade was a 18.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,643,311 shares of company stock worth $59,736,620 in the last 90 days. 33.54% of the stock is owned by company insiders.
Institutional Investors Weigh In On C3.ai
Hedge funds have recently added to or reduced their stakes in the stock. Brown Lisle Cummings Inc. raised its stake in shares of C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after acquiring an additional 400 shares during the last quarter. R Squared Ltd acquired a new position in C3.ai during the 4th quarter worth $29,000. Russell Investments Group Ltd. increased its stake in shares of C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after buying an additional 456 shares during the period. WealthTrak Capital Management LLC acquired a new position in shares of C3.ai during the fourth quarter valued at $33,000. Finally, CENTRAL TRUST Co bought a new position in C3.ai in the fourth quarter valued at about $34,000. Institutional investors own 38.96% of the company's stock.
About C3.ai
(
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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.
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