C3.ai, Inc. (NYSE:AI) Receives Consensus Rating of “Hold” from Analysts
C3.ai, Inc. (NYSE:AI – Get Rating) earned an average recommendation of “Hold” from the thirteen brokerages that cover the business, MarketBeat Ratings reports. Four analysts rated the stock with a sell rating, five gave the company a hold rating and one gave the company a buy rating. The 1-year average target price among brokers who have hedged the stock over the past year is $18.56.
A number of stock analysts have published reports on the company. Deutsche Bank Aktiengesellschaft cut its price target on C3.ai from $14.50 to $13.00 and set a “sell” rating for the company in a Tuesday, September 6 research note. Canaccord Genuity Group reduced its price target on C3.ai from $23.00 to $19.00 in a Thursday, June 2 research note. Piper Sandler cut her price target on C3.ai from $18.00 to $14.00 and set a “neutral” rating for the company in a Thursday, September 1 research note. StockNews.com upgraded C3.ai to a “sell” rating in a Friday, June 3 research report. Finally, UBS Group reduced its price target on C3.ai from $19.00 to $16.00 and set a “hold” rating for the company in a Thursday, September 1 research report.
Insiders place their bets
Separately, CFO Juho Parkkinen sold 2,120 C3.ai shares in a trade that took place on Monday, August 1. The shares were sold at an average price of $18.19, for a total value of $38,562.80. Following completion of the transaction, the CFO now owns 363,926 shares of the company, valued at $6,619,813.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders sold a total of 6,780 shares of the company worth $112,678 during the last quarter. Insiders of the company hold 38.08% of the shares of the company.
Institutional negotiation of C3.ai
Hedge funds and other institutional investors have recently changed their stock holdings. Vanguard Group Inc. increased its stake in C3.ai by 29.9% during the 1st quarter. Vanguard Group Inc. now owns 7,969,409 shares of the company worth $180,905,000 after acquiring an additional 1,834,412 shares during the period. FMR LLC increased its holdings of C3.ai shares by 801.1% in Q2. FMR LLC now owns 1,810,148 shares of the company valued at $33,053,000 after purchasing an additional 1,609,258 shares during the period. Renaissance Technologies LLC increased its holdings of C3.ai stock by 39.3% in Q1. Renaissance Technologies LLC now owns 2,412,200 shares of the company valued at $54,757,000 after purchasing an additional 680,700 shares during the period. Spring Creek Capital LLC acquired a new equity position of C3.ai in Q1 worth $13,763,000. Finally, State Street Corp increased its holdings of C3.ai shares by 44.4% in Q2. State Street Corp now owns 1,501,104 shares of the company valued at $27,410,000 after purchasing an additional 461,204 shares during the period. Institutional investors and hedge funds own 44.34% of the company’s shares.
C3.ai trades down 4.2%
NYSE:AI opened at $13.44 on Wednesday. The company has a market capitalization of $1.46 billion, a PE ratio of -6.25 and a beta of 0.40. The stock has a 50-day moving average of $18.47 and a 200-day moving average of $18.88. C3.ai has a 52 week minimum of $13.37 and a 52 week maximum of $53.82.
C3.ai (NYSE:AI – Get Rating) last released its quarterly earnings data on Wednesday, August 31. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.24) by $0.12. C3.ai had a negative return on equity of 19.23% and a negative net margin of 85.25%. The company posted revenue of $65.31 million in the quarter, versus analyst estimates of $66.02 million. During the same period of the previous year, the company posted an EPS of ($0.23). The company’s revenue for the quarter increased by 24.6% compared to the same quarter last year. As a group, analysts expect C3.ai to post -2.65 EPS for the current fiscal year.
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C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software applications as a service for businesses. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop and deploy enterprise AI applications; and C3 AI Applications, which includes turnkey industry and application-specific AI solutions.
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