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

Shares of C3.ai, Inc. (NYSE:AI) have earned an average rating of “Reduce” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.8667.

AI has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, January 21st. Wedbush dropped their price target on shares of C3.ai from $20.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Wolfe Research reaffirmed an “underperform” rating and set a $6.00 price target on shares of C3.ai in a research note on Thursday, February 26th. UBS Group reiterated a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, December 4th.

Insider Transactions at C3.ai

In other news, CFO Hitesh Lath sold 15,248 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $8.98, for a total value of $136,927.04. Following the transaction, the chief financial officer directly owned 238,308 shares in the company, valued at $2,140,005.84. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Thomas M. Siebel sold 511,732 shares of C3.ai stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $11.66, for a total value of $5,966,795.12. Following the completion of the transaction, the chairman directly owned 722,362 shares in the company, valued at $8,422,740.92. This represents a 41.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,335,113 shares of company stock worth $16,860,919 over the last ninety days. 26.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Silicon Valley Capital Partners acquired a new position in C3.ai during the second quarter valued at approximately $25,000. Larson Financial Group LLC grew its stake in C3.ai by 683.6% during the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,292 shares during the period. Farther Finance Advisors LLC increased its position in shares of C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares in the last quarter. Parallel Advisors LLC raised its stake 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 valued at $32,000 after acquiring an additional 801 shares during the period. Finally, Comerica Bank raised its stake in shares of C3.ai by 839.1% in the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after acquiring an additional 2,165 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Trading Down 2.4%

NYSE AI opened at $8.60 on Thursday. The business’s 50-day moving average price is $10.96 and its 200 day moving average price is $14.26. C3.ai has a twelve month low of $7.72 and a twelve month high of $30.24. The company has a market capitalization of $1.21 billion, a PE ratio of -2.73 and a beta of 2.05.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). The business had revenue of $53.26 million during the quarter, compared to analyst estimates of $75.91 million. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The firm’s quarterly revenue was down 46.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) earnings per share. Equities analysts predict that C3.ai will post -2.44 EPS 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.