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

Shares of C3.ai, Inc. (NYSE:AI) have earned an average recommendation of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $31.33.

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. JMP Securities lifted their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group dropped their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley dropped their target price on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. Finally, Piper Sandler dropped their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th.

Insider Activity at C3.ai

In other news, Director Jim H. Snabe sold 499,700 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $430,500. The trade was a 98.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Merel Witteveen sold 11,132 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the transaction, the vice president now owns 4,142 shares of the company’s stock, valued at $144,762.90. This trade represents a 72.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,501,972 shares of company stock worth $53,818,532. Corporate insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AI. Two Sigma Investments LP purchased a new position in shares of C3.ai during the 4th quarter valued at $42,306,000. Man Group plc bought a new stake in shares of C3.ai during the 4th quarter worth $38,455,000. Two Sigma Advisers LP bought a new stake in shares of C3.ai during the 4th quarter worth $30,725,000. Renaissance Technologies LLC lifted its holdings in shares of C3.ai by 1,242.5% during the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after acquiring an additional 664,731 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after acquiring an additional 446,529 shares during the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Price Performance

Shares of AI opened at $21.57 on Friday. The stock has a 50-day moving average of $29.62 and a 200-day moving average of $29.36. The company has a market cap of $2.78 billion, a PE ratio of -9.76 and a beta of 2.03. C3.ai has a one year low of $18.85 and a one year high of $45.08.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. Analysts expect that C3.ai will post -2.44 EPS for the current fiscal year.

About C3.ai

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.