Brokerages Set C3.ai, Inc. (NYSE:AI) Target Price at $27.70

C3.ai, Inc. (NYSE:AI - Get Free Report) has earned a consensus recommendation of "Hold" from the twelve brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $27.70.

Several equities research analysts recently weighed in on the stock. Bank of America reduced their price objective on shares of C3.ai from $24.00 to $20.00 and set an "underperform" rating for the company in a report on Thursday, September 5th. Morgan Stanley decreased their price objective on shares of C3.ai from $23.00 to $21.00 and set an "underweight" rating for the company in a report on Thursday, September 5th. Canaccord Genuity Group dropped their target price on C3.ai from $30.00 to $23.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. Wedbush decreased their price target on C3.ai from $40.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, September 5th. Finally, Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Thursday, September 5th.

C3.ai Stock Down 0.8 %

NYSE AI traded down $0.19 on Monday, hitting $24.84. The stock had a trading volume of 2,310,370 shares, compared to its average volume of 5,411,574. The company's 50-day moving average is $24.13 and its two-hundred day moving average is $25.71. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -10.89 and a beta of 1.80. C3.ai has a one year low of $18.85 and a one year high of $38.30.

C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $87.21 million for the quarter, compared to analysts' expectations of $86.94 million. During the same period last year, the firm earned ($0.56) EPS. The firm's revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts anticipate that C3.ai will post -2.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of C3.ai by 3.1% during the first quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company's stock valued at $288,239,000 after buying an additional 317,768 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in C3.ai during the 2nd quarter worth about $3,465,000. Virtu Financial LLC grew its stake in C3.ai by 541.6% during the 1st quarter. Virtu Financial LLC now owns 108,720 shares of the company's stock valued at $2,943,000 after acquiring an additional 91,774 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of C3.ai by 679.8% in the 2nd quarter. Hsbc Holdings PLC now owns 87,092 shares of the company's stock valued at $2,500,000 after purchasing an additional 75,923 shares during the period. Finally, Evergreen Capital Management LLC purchased a new stake in shares of C3.ai in the second quarter worth approximately $1,453,000. 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.