C3.ai, Inc. (NYSE:AI) Given Average Recommendation of “Reduce” by Analysts

C3.ai, Inc. (NYSE:AI) has earned an average recommendation of “Reduce” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $10.6667.

A number of brokerages have issued reports on AI. Citizens Jmp reiterated a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. UBS Group raised their price target on C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Wedbush reaffirmed an “outperform” rating and issued a $15.00 price target on shares of C3.ai in a research report on Thursday, June 4th. Finally, DA Davidson reiterated an “underperform” rating and issued a $7.00 price target on shares of C3.ai in a research note on Thursday, June 4th.

C3.ai Stock Performance

AI stock opened at $8.55 on Wednesday. The firm has a 50 day moving average price of $9.64 and a 200-day moving average price of $10.04. C3.ai has a 52-week low of $7.68 and a 52-week high of $29.30. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -2.56 and a beta of 2.06.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The firm had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.60 million. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business’s revenue for the quarter was down 52.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) EPS. As a group, sell-side analysts forecast that C3.ai will post -2.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thomas M. Siebel sold 472,005 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $11.11, for a total value of $5,243,975.55. Following the transaction, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at approximately $8,025,441.82. This represents a 39.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen Bradley Ehikian sold 50,542 shares of C3.ai stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.45, for a total value of $477,621.90. Following the completion of the sale, the chief executive officer directly owned 651,130 shares of the company’s stock, valued at approximately $6,153,178.50. The trade was a 7.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 1,155,144 shares of company stock valued at $11,420,651. Insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC boosted its position in shares of 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 buying an additional 1,292 shares during the last quarter. Parallel Advisors LLC raised its position in C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares during the last quarter. Farther Finance Advisors LLC raised its position in C3.ai by 66.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the last quarter. Comerica Bank lifted its stake in C3.ai by 839.1% during 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. Finally, NewEdge Advisors LLC lifted its stake in C3.ai by 48.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after acquiring an additional 800 shares during the period. 38.96% of the stock is owned by institutional investors.

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.