C3.ai, Inc. (NYSE:AI) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of C3.ai, Inc. (NYSE:AI - Get Free Report) have earned an average rating of "Hold" from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.70.

Several analysts have recently weighed in on AI shares. Piper Sandler Companies reiterated a "neutral" rating and set a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Northland Capmk raised C3.ai from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 30th. Wedbush dropped their target price on C3.ai from $40.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, September 5th. Finally, Morgan Stanley lowered their price target on C3.ai from $23.00 to $21.00 and set an "underweight" rating on the stock in a research report on Thursday, September 5th.

C3.ai Stock Up 0.6 %

Shares of AI stock traded up $0.13 during mid-day trading on Friday, reaching $23.00. The stock had a trading volume of 4,337,404 shares, compared to its average volume of 5,922,137. C3.ai has a one year low of $18.85 and a one year high of $38.30. The firm has a market cap of $2.87 billion, a PE ratio of -9.83 and a beta of 1.81. The firm's 50 day simple moving average is $25.49 and its 200 day simple moving average is $26.42.

C3.ai (NYSE:AI - Get Free Report) last issued its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.08. The firm had revenue of $87.21 million during the quarter, compared to analysts' expectations of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. C3.ai's quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the business earned ($0.56) earnings per share. Sell-side analysts forecast that C3.ai will post -2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Hitesh Lath sold 3,005 shares of the firm's stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the completion of the sale, the chief financial officer now owns 7,390 shares of the company's stock, valued at $203,668.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 34.00% of the stock is owned by corporate insiders.

Institutional Trading of C3.ai

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toth Financial Advisory Corp raised its position in shares of C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company's stock valued at $27,000 after acquiring an additional 900 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in C3.ai in the second quarter valued at about $28,000. Blue Trust Inc. lifted its stake in C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company's stock valued at $28,000 after buying an additional 615 shares during the period. ICA Group Wealth Management LLC bought a new position in C3.ai during the fourth quarter worth about $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of C3.ai during the 2nd quarter worth about $29,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

About C3.ai

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.