C3.ai (NYSE:AI) Given New $28.00 Price Target at Piper Sandler

C3.ai (NYSE:AI - Free Report) had its target price decreased by Piper Sandler from $42.00 to $28.00 in a report published on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research firms also recently commented on AI. KeyCorp downgraded C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 price objective for the company. in a research note on Thursday, December 19th. StockNews.com upgraded shares of C3.ai to a "sell" rating in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a report on Thursday. Northland Securities increased their price target on shares of C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price objective on the stock. in a report on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, C3.ai presently has a consensus rating of "Hold" and an average price target of $31.33.

C3.ai Trading Down 6.0 %

AI traded down $1.40 on Thursday, hitting $22.05. 5,663,335 shares of the company's stock were exchanged, compared to its average volume of 5,219,224. The firm has a 50-day moving average price of $32.39 and a 200-day moving average price of $29.61. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -9.98 and a beta of 1.98.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, equities analysts predict that C3.ai will post -2.44 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the completion of the sale, the chief executive officer now owns 1,336,968 shares of the company's stock, valued at $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard C. Levin sold 12,000 shares of C3.ai stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the sale, the director now owns 161,664 shares of the company's stock, valued at $4,824,053.76. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,643,311 shares of company stock worth $59,736,620. Insiders own 33.54% of the company's stock.

Institutional Investors Weigh In On C3.ai

Several hedge funds have recently modified their holdings of the stock. Creative Planning increased its position in C3.ai by 7.0% during the third quarter. Creative Planning now owns 56,573 shares of the company's stock worth $1,371,000 after purchasing an additional 3,712 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in C3.ai by 21.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,745 shares of the company's stock valued at $115,000 after acquiring an additional 839 shares during the period. International Assets Investment Management LLC acquired a new stake in C3.ai during the third quarter worth about $10,560,000. Pathway Financial Advisers LLC raised its holdings in shares of C3.ai by 2,501.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 8,844 shares of the company's stock worth $214,000 after purchasing an additional 8,504 shares during the period. Finally, Focus Financial Network Inc. lifted its stake in shares of C3.ai by 34.5% in the 3rd quarter. Focus Financial Network Inc. now owns 45,293 shares of the company's stock valued at $1,097,000 after purchasing an additional 11,617 shares in the last quarter. 38.96% of the stock is 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.