C3.ai (NYSE:AI) Receives "Outperform" Rating from Oppenheimer

Oppenheimer restated their outperform rating on shares of C3.ai (NYSE:AI - Free Report) in a report released on Thursday, Benzinga reports. Oppenheimer currently has a $40.00 target price on the stock.

Several other equities research analysts have also recently issued reports on the stock. Needham & Company LLC reaffirmed a hold rating on shares of C3.ai in a research report on Thursday. Piper Sandler Companies reiterated a neutral rating and set a $24.00 price target on shares of C3.ai in a research note on Thursday. Wedbush cut their price target on shares of C3.ai from $40.00 to $30.00 and set an outperform rating on the stock in a research note on Thursday. Piper Sandler cut their price target on shares of C3.ai from $29.00 to $24.00 and set a neutral rating on the stock in a research note on Thursday. Finally, Northland Capmk upgraded shares of C3.ai from a hold rating to a strong-buy rating in a research note on Thursday, May 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $27.70.

C3.ai Stock Down 8.2 %

AI stock traded down $1.89 during midday trading on Thursday, hitting $21.12. The company's stock had a trading volume of 25,807,143 shares, compared to its average volume of 5,952,413. C3.ai has a 52-week low of $18.85 and a 52-week high of $38.30. The firm has a market capitalization of $2.64 billion, a P/E ratio of -8.62 and a beta of 1.83. The firm has a 50-day simple moving average of $26.46 and a 200-day simple moving average of $26.73.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly 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 net margin of 93.36% and a negative return on equity of 30.95%. The company had revenue of $87.21 million during the quarter, compared to analysts' expectations of $86.94 million. During the same quarter last year, the company posted ($0.56) EPS. The firm's revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts expect that C3.ai will post -2.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Hitesh Lath sold 3,005 shares of the business's stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the sale, the chief financial officer now owns 7,390 shares of the company's stock, valued at $203,668.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 34.00% of the stock is owned by insiders.

Institutional Trading of C3.ai

Several institutional investors and hedge funds have recently modified their holdings of AI. ICA Group Wealth Management LLC acquired a new position in shares of C3.ai in the fourth quarter valued at approximately $29,000. Toth Financial Advisory Corp raised its position in shares of C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company's stock valued at $27,000 after buying an additional 900 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of C3.ai in the second quarter valued at approximately $29,000. Unique Wealth Strategies LLC acquired a new position in shares of C3.ai in the second quarter valued at approximately $28,000. Finally, Blue Trust Inc. raised its position in shares of 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 last quarter. Hedge funds and other institutional investors 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.