C3.ai, Inc. (NYSE:AI) Receives Average Recommendation of “Reduce” from Analysts

Shares of C3.ai, Inc. (NYSE:AI) have received an average recommendation of “Reduce” from the fifteen analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $21.9167.

A number of brokerages recently issued reports on AI. UBS Group raised their price target on C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Oppenheimer restated a “market perform” rating on shares of C3.ai in a report on Tuesday, August 12th. KeyCorp cut their price target on shares of C3.ai from $18.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, September 4th. Northland Capmk downgraded shares of C3.ai from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Finally, Morgan Stanley dropped their target price on C3.ai from $22.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, September 9th.

C3.ai Trading Up 2.7%

AI opened at $15.48 on Tuesday. The stock has a 50-day moving average of $16.40 and a 200 day moving average of $20.04. C3.ai has a 12 month low of $12.59 and a 12 month high of $45.08. The firm has a market cap of $2.13 billion, a P/E ratio of -5.47 and a beta of 1.97.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.08. The business had revenue of $75.15 million during the quarter, compared to analyst estimates of $74.86 million. C3.ai had a negative return on equity of 45.67% and a negative net margin of 108.06%.The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. On average, research analysts forecast that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Activity at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 46,881 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $16.99, for a total value of $796,508.19. Following the transaction, the chief financial officer owned 209,154 shares of the company’s stock, valued at $3,553,526.46. This represents a 18.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Thomas M. Siebel sold 566,125 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $17.23, for a total value of $9,754,333.75. Following the completion of the sale, the chairman owned 2,510,102 shares in the company, valued at approximately $43,249,057.46. The trade was a 18.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,318,479 shares of company stock worth $39,632,315 in the last quarter. 26.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On C3.ai

Several large investors have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners purchased a new position in shares of C3.ai during the second quarter worth approximately $25,000. Larson Financial Group LLC raised its position in C3.ai by 683.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,292 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares during the period. Financial Consulate Inc. bought a new position in shares of C3.ai during the 3rd quarter worth $36,000. Finally, Clearstead Advisors LLC raised its holdings in shares of C3.ai by 58.0% in the third quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock valued at $41,000 after acquiring an additional 863 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.