Needham & Company LLC Reaffirms Hold Rating for C3.ai (NYSE:AI)

C3.ai (NYSE:AI - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

Several other equities analysts also recently weighed in on AI. StockNews.com upgraded C3.ai to a "sell" rating in a research report on Tuesday, November 26th. Morgan Stanley upped their target price on shares of C3.ai from $21.00 to $32.00 and gave the stock an "underweight" rating in a report on Tuesday, December 10th. DA Davidson raised shares of C3.ai to a "hold" rating in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their price target on shares of C3.ai from $23.00 to $40.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. downgraded shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price objective for the company. in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $31.33.

C3.ai Price Performance

NYSE AI traded down $1.40 on Thursday, hitting $22.05. The company had a trading volume of 5,663,335 shares, compared to its average volume of 5,219,224. The company's fifty day moving average price is $32.39 and its 200-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 has a 12-month low of $18.85 and a 12-month high of $45.08.

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 company had revenue of $98.78 million for the quarter, compared to analysts' expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, sell-side analysts anticipate 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 552,422 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the transaction, the chief executive officer now owns 1,336,968 shares of the company's stock, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $476,238.00. Following the completion of the sale, the chief financial officer now directly owns 851 shares in the company, valued at $35,742. This trade represents a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,643,311 shares of company stock valued at $59,736,620 over the last quarter. 33.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. raised its holdings in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after buying an additional 400 shares during the period. R Squared Ltd acquired a new position in C3.ai in the 4th quarter valued at about $29,000. Russell Investments Group Ltd. increased its stake in C3.ai by 100.7% during 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 period. WealthTrak Capital Management LLC acquired a new stake in shares of C3.ai during the fourth quarter worth about $33,000. Finally, CENTRAL TRUST Co purchased a new position in shares of C3.ai in the fourth quarter valued at approximately $34,000. 38.96% of the stock is currently 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.