KeyCorp Lowers C3.ai (NYSE:AI) Price Target to $17.00

C3.ai (NYSE:AI - Get Free Report) had its price target reduced by equities research analysts at KeyCorp from $21.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the stock. KeyCorp's target price would indicate a potential downside of 12.29% from the company's previous close.

Several other equities research analysts have also commented on AI. Morgan Stanley cut their price objective on C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research note on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Canaccord Genuity Group lowered their target price on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Piper Sandler decreased their price target on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson lowered their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $29.58.

C3.ai Stock Performance

Shares of C3.ai stock traded up $0.03 on Thursday, hitting $19.38. The company's stock had a trading volume of 2,348,902 shares, compared to its average volume of 5,204,859. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -8.77 and a beta of 2.01. The firm has a fifty day moving average price of $23.20 and a 200-day moving average price of $28.90. C3.ai has a 1 year low of $17.03 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). The company had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. As a group, analysts forecast that C3.ai will post -2.44 EPS for the current year.

Insiders Place Their Bets

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of C3.ai stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard C. Levin sold 12,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the transaction, the director now owns 161,664 shares in the company, valued at approximately $4,824,053.76. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,446,967 shares of company stock valued at $37,175,326 over the last quarter. 33.54% of the stock is owned by insiders.

Institutional Investors Weigh In On C3.ai

Institutional investors have recently modified their holdings of the company. FMR LLC increased its stake in C3.ai by 149.2% during the third quarter. FMR LLC now owns 13,994 shares of the company's stock worth $339,000 after purchasing an additional 8,378 shares during the period. State Street Corp grew its holdings in shares of C3.ai by 1.8% in the third quarter. State Street Corp now owns 2,121,391 shares of the company's stock valued at $51,401,000 after purchasing an additional 38,185 shares in the last quarter. Geode Capital Management LLC increased its stake in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company's stock worth $53,728,000 after buying an additional 178,870 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in C3.ai by 28.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company's stock worth $496,000 after buying an additional 3,161 shares in the last quarter. Finally, TT International Asset Management LTD purchased a new position in C3.ai in the 4th quarter valued at approximately $482,000. 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.