DA Davidson Cuts C3.ai (NYSE:AI) Price Target to $25.00

C3.ai (NYSE:AI - Get Free Report) had its target price decreased by analysts at DA Davidson from $40.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. DA Davidson's target price would suggest a potential upside of 13.38% from the company's previous close.

A number of other research analysts have also recently issued reports on the company. 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 note on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday. StockNews.com upgraded shares of C3.ai to a "sell" rating in a report on Tuesday, November 26th. Canaccord Genuity Group increased their target price on shares of C3.ai from $23.00 to $40.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lowered shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 target price for the company. in a report on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $31.33.

C3.ai Stock Performance

AI traded down $1.40 during trading on Thursday, reaching $22.05. The stock had a trading volume of 6,285,123 shares, compared to its average volume of 5,235,080. The stock has a market cap of $2.85 billion, a PE ratio of -9.98 and a beta of 1.98. C3.ai has a one year low of $18.85 and a one year high of $45.08. The business has a 50-day moving average of $32.13 and a 200-day moving average of $29.58.

C3.ai (NYSE:AI - Get Free Report) last released 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 firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. Equities research analysts forecast that C3.ai will post -2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Merel Witteveen sold 11,132 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $34.95, for a total transaction of $389,063.40. Following the sale, the vice president now owns 4,142 shares of the company's stock, valued at $144,762.90. This trade represents 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 available through this link. Also, CEO Thomas M. Siebel sold 552,422 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total value of $18,252,022.88. Following the sale, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,643,311 shares of company stock worth $59,736,620 over the last quarter. Company insiders own 33.54% of the company's stock.

Institutional Investors Weigh In On C3.ai

Institutional investors have recently added to or reduced their stakes in the business. 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 purchasing an additional 400 shares during the last quarter. R Squared Ltd purchased a new position in shares of C3.ai in the fourth quarter worth about $29,000. Russell Investments Group Ltd. raised 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 purchasing an additional 456 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of C3.ai in the fourth quarter worth about $33,000. Finally, CENTRAL TRUST Co purchased a new position in shares of C3.ai in the fourth quarter worth about $34,000. 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.