C3.ai (NYSE:AI) Stock Passes Above 200 Day Moving Average - Time to Sell?

C3.ai, Inc. (NYSE:AI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.91 and traded as high as $28.03. C3.ai shares last traded at $27.79, with a volume of 2,840,055 shares.

Analyst Ratings Changes

A number of brokerages have recently commented on AI. Morgan Stanley lowered their price objective on C3.ai from $23.00 to $21.00 and set an "underweight" rating for the company in a research report on Thursday, September 5th. Bank of America lowered their price objective on C3.ai from $24.00 to $20.00 and set an "underperform" rating for the company in a research report on Thursday, September 5th. StockNews.com raised C3.ai to a "sell" rating in a research report on Tuesday. Piper Sandler Companies reaffirmed a "neutral" rating and issued a $24.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, Piper Sandler lowered their price objective on C3.ai from $29.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Three equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $27.70.

C3.ai Stock Up 1.2 %

The stock has a 50 day simple moving average of $24.64 and a 200 day simple moving average of $25.94. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -12.39 and a beta of 1.80.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company had revenue of $87.21 million for the quarter, compared to analysts' expectations of $86.94 million. During the same quarter in the previous year, the firm posted ($0.56) earnings per share. The firm's quarterly revenue was up 20.5% on a year-over-year basis. As a group, equities research analysts expect that C3.ai, Inc. will post -2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. American Century Companies Inc. increased its holdings in C3.ai by 2.1% in the second quarter. American Century Companies Inc. now owns 21,447 shares of the company's stock valued at $621,000 after buying an additional 432 shares during the last quarter. Victory Capital Management Inc. increased its holdings in C3.ai by 3.4% in the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company's stock valued at $341,000 after buying an additional 457 shares during the last quarter. Principal Financial Group Inc. increased its holdings in C3.ai by 4.3% in the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company's stock valued at $323,000 after buying an additional 462 shares during the last quarter. Forum Financial Management LP increased its holdings in C3.ai by 4.4% in the second quarter. Forum Financial Management LP now owns 12,893 shares of the company's stock valued at $373,000 after buying an additional 539 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in C3.ai by 0.5% in the second quarter. Rhumbline Advisers now owns 125,344 shares of the company's stock valued at $3,630,000 after buying an additional 572 shares during the last quarter. 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.