C3.ai, Inc. (NYSE:AI) Receives Average Rating of “Hold” from Brokerages

C3.ai, Inc. (NYSE:AI) has been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $29.91.

AI has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price target on C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Bank of America upped their price target on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Piper Sandler boosted their price objective on shares of C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, Wedbush reduced their target price on shares of C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th.

Institutional Investors Weigh In On C3.ai

A number of large investors have recently added to or reduced their stakes in AI. Armstrong Advisory Group Inc. increased its stake in shares of C3.ai by 375.7% during the third quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock worth $25,000 after purchasing an additional 789 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of C3.ai during the third quarter worth $25,000. Lazard Asset Management LLC boosted its position in shares of C3.ai by 117.7% in the third quarter. Lazard Asset Management LLC now owns 986 shares of the company’s stock valued at $25,000 after acquiring an additional 533 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of C3.ai in the first quarter valued at about $25,000. Finally, Point72 Hong Kong Ltd bought a new position in C3.ai during the second quarter worth about $25,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Trading Up 0.5 %

Shares of AI opened at $20.60 on Thursday. The stock has a market cap of $2.51 billion, a P/E ratio of -8.84 and a beta of 1.70. The stock’s 50-day moving average price is $27.97 and its two-hundred day moving average price is $27.44. C3.ai has a 1 year low of $16.79 and a 1 year high of $48.87.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 28th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.13. The firm had revenue of $78.40 million during the quarter, compared to the consensus estimate of $75.92 million. C3.ai had a negative net margin of 95.21% and a negative return on equity of 29.60%. As a group, equities analysts forecast that C3.ai will post -2.48 EPS for the current year.

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.