UBS Group Issues Pessimistic Forecast for C3.ai (NYSE:AI) Stock Price

C3.ai (NYSE:AI) had its price objective decreased by UBS Group from $28.00 to $27.00 in a research note issued to investors on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

AI has been the topic of several other research reports. DA Davidson lowered their price target on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. KeyCorp reaffirmed a “mixed” rating on shares of C3.ai in a report on Thursday, May 29th. Oppenheimer lowered their target price on shares of C3.ai from $56.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, May 29th. Piper Sandler dropped their target price on C3.ai from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 29th. Finally, Wall Street Zen lowered C3.ai from a “hold” rating to a “sell” rating in a report on Friday, June 6th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, C3.ai presently has an average rating of “Hold” and an average price target of $29.38.

C3.ai Price Performance

Shares of AI opened at $24.76 on Thursday. C3.ai has a 1 year low of $17.03 and a 1 year high of $45.08. The stock’s fifty day moving average price is $23.47 and its two-hundred day moving average price is $26.98. The firm has a market cap of $3.29 billion, a PE ratio of -11.05 and a beta of 2.04.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04. The company had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) EPS. Sell-side analysts anticipate that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at C3.ai

In other news, CEO Thomas M. Siebel sold 356,418 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $20.19, for a total value of $7,196,079.42. Following the completion of the transaction, the chief executive officer now directly owns 241,768 shares in the company, valued at approximately $4,881,295.92. This represents a 59.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total value of $264,149.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,752,730 shares of company stock valued at $41,551,316. 33.54% of the stock is owned by corporate insiders.

Institutional Trading of C3.ai

A number of hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new position in C3.ai during the first quarter valued at approximately $177,000. Acadian Asset Management LLC purchased a new stake in shares of C3.ai in the 1st quarter valued at $2,983,000. Intech Investment Management LLC grew its holdings in shares of C3.ai by 75.7% during the 1st quarter. Intech Investment Management LLC now owns 88,507 shares of the company’s stock valued at $1,863,000 after purchasing an additional 38,135 shares during the last quarter. Focus Partners Wealth raised its position in C3.ai by 2.6% in the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock worth $1,242,000 after purchasing an additional 1,503 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in C3.ai by 870.9% in the first quarter. Bayforest Capital Ltd now owns 8,709 shares of the company’s stock worth $183,000 after purchasing an additional 7,812 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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.