C3.ai, Inc. (NYSE:AI) Given Consensus Rating of “Reduce” by Brokerages

Shares of C3.ai, Inc. (NYSE:AI) have received a consensus rating of “Reduce” from the fourteen brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $21.00.

A number of research firms have weighed in on AI. Bank of America set a $10.00 price objective on shares of C3.ai in a research report on Friday, January 30th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of C3.ai in a research note on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, January 21st. DA Davidson restated an “underperform” rating and set a $13.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $16.00 target price on shares of C3.ai in a research report on Thursday, December 4th.

Insider Buying and Selling

In related news, CEO Stephen Bradley Ehikian sold 234,918 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $13.56, for a total value of $3,185,488.08. Following the sale, the chief executive officer directly owned 924,074 shares of the company’s stock, valued at $12,530,443.44. This represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Hitesh Lath sold 15,042 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $14.38, for a total transaction of $216,303.96. Following the transaction, the chief financial officer owned 223,120 shares in the company, valued at $3,208,465.60. This trade represents a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,884,304 shares of company stock worth $24,970,674. Insiders own 26.50% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in C3.ai by 77.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after buying an additional 785,508 shares during the last quarter. Two Sigma Investments LP bought a new position in C3.ai during the 3rd quarter worth approximately $13,379,000. Voloridge Investment Management LLC acquired a new position in shares of C3.ai in the 4th quarter worth approximately $9,183,000. Federated Hermes Inc. increased its holdings in shares of C3.ai by 93,578.8% in the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock valued at $9,105,000 after acquiring an additional 674,703 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of C3.ai by 2,831.4% in the 3rd quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after acquiring an additional 535,557 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Stock Down 2.9%

Shares of NYSE:AI opened at $10.39 on Friday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.67 and a beta of 1.98. The company has a 50 day moving average of $12.73 and a two-hundred day moving average of $15.41. C3.ai has a 52-week low of $9.99 and a 52-week high of $30.24.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share 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 the consensus estimate of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. On average, equities analysts anticipate that C3.ai will post -2.44 earnings per share for the current year.

About C3.ai

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.