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

C3.ai, Inc. (NYSE:AI) has been assigned an average rating of “Reduce” from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $21.9167.

Several equities analysts have recently issued reports on the company. DA Davidson reissued an “underperform” rating and issued a $13.00 price objective on shares of C3.ai in a report on Thursday, December 4th. Canaccord Genuity Group reissued a “hold” rating and issued a $16.00 price target on shares of C3.ai in a report on Thursday, December 4th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of C3.ai in a research note on Thursday, December 4th.

C3.ai Price Performance

AI stock opened at $12.62 on Wednesday. The company has a market capitalization of $1.78 billion, a P/E ratio of -4.46 and a beta of 1.97. C3.ai has a 12 month low of $12.27 and a 12 month high of $35.98. The firm’s fifty day simple moving average is $14.01 and its 200-day simple moving average is $17.24.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.08. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The firm had revenue of $75.15 million during the quarter, compared to analysts’ expectations of $74.86 million. During the same quarter last year, the company posted ($0.06) earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. As a group, sell-side analysts forecast that C3.ai will post -2.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Thomas M. Siebel sold 543,706 shares of C3.ai stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $15.24, for a total value of $8,286,079.44. Following the completion of the transaction, the chairman owned 1,437,174 shares in the company, valued at $21,902,531.76. The trade was a 27.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hitesh Lath sold 15,042 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 223,120 shares of the company’s stock, valued at $3,208,465.60. The trade was a 6.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,916,218 shares of company stock worth $27,468,077. Company insiders own 26.50% of the company’s stock.

Institutional Trading of C3.ai

Institutional investors and hedge funds have recently made changes to their positions in the business. Silicon Valley Capital Partners acquired a new stake in C3.ai in the 2nd quarter valued at $25,000. Larson Financial Group LLC lifted its holdings in C3.ai by 683.6% during the third 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. Farther Finance Advisors LLC lifted its holdings in C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. Parallel Advisors LLC grew its position in shares of C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in shares of C3.ai during the fourth quarter worth about $34,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.