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

C3.ai, Inc. (NYSE:AI) has earned an average rating of “Reduce” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $21.9167.

A number of equities research analysts have commented on the company. Canaccord Genuity Group reiterated a “hold” rating and issued a $16.00 price target on shares of C3.ai in a research report on Thursday, December 4th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. DA Davidson reiterated an “underperform” rating and set a $13.00 price objective on shares of C3.ai in a research report on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, October 8th. Finally, Morgan Stanley cut their price target on shares of C3.ai from $22.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 9th.

Insider Activity

In related news, CEO Stephen Bradley Ehikian sold 234,918 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $13.56, for a total transaction of $3,185,488.08. Following the completion of the sale, the chief executive officer owned 924,074 shares of the company’s stock, valued at $12,530,443.44. This trade represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Hitesh Lath sold 15,042 shares of C3.ai stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $14.38, for a total value of $216,303.96. Following the completion of the sale, the chief financial officer owned 223,120 shares of the company’s stock, valued at approximately $3,208,465.60. The trade was a 6.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,948,845 shares of company stock valued at $30,849,644 in the last ninety days. 26.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On C3.ai

Several hedge funds and other institutional investors have recently bought and sold shares of AI. CIBC Private Wealth Group LLC raised its holdings in shares of C3.ai by 22.1% during the third quarter. CIBC Private Wealth Group LLC now owns 24,607 shares of the company’s stock valued at $427,000 after purchasing an additional 4,446 shares during the period. CIBC Bancorp USA Inc. acquired a new position in C3.ai during the 3rd quarter worth approximately $227,000. Mayport LLC bought a new position in C3.ai in the third quarter worth approximately $191,000. XTX Topco Ltd acquired a new stake in C3.ai in the third quarter valued at approximately $1,702,000. Finally, Nomura Holdings Inc. grew its stake in C3.ai by 36.1% in the third quarter. Nomura Holdings Inc. now owns 32,943 shares of the company’s stock valued at $571,000 after acquiring an additional 8,733 shares during the period. 38.96% of the stock is owned by institutional investors.

C3.ai Stock Performance

Shares of NYSE AI opened at $13.70 on Friday. The firm has a 50 day moving average price of $14.86 and a two-hundred day moving average price of $18.72. The stock has a market cap of $1.93 billion, a P/E ratio of -4.84 and a beta of 1.97. C3.ai has a 52-week low of $12.59 and a 52-week high of $38.58.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.08. The company had revenue of $75.15 million for the quarter, compared to analyst estimates of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. C3.ai’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. Analysts predict that C3.ai will post -2.44 earnings per share for the current fiscal year.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.