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

C3.ai, Inc. (NYSE:AI) has been assigned a consensus recommendation of “Reduce” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $15.8667.

Several equities analysts have recently weighed in on AI shares. Wedbush cut their target price on shares of C3.ai from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. KeyCorp lowered their price target on shares of C3.ai from $10.00 to $6.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Canaccord Genuity Group dropped their price target on shares of C3.ai from $16.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. UBS Group reaffirmed a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. Finally, DA Davidson decreased their price objective on shares of C3.ai from $13.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, February 26th.

Insiders Place Their Bets

In other news, CFO Hitesh Lath sold 15,248 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $8.98, for a total value of $136,927.04. Following the completion of the sale, the chief financial officer directly owned 238,308 shares in the company, valued at $2,140,005.84. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Thomas M. Siebel sold 511,732 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $11.66, for a total value of $5,966,795.12. Following the transaction, the chairman directly owned 722,362 shares of the company’s stock, valued at approximately $8,422,740.92. The trade was a 41.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,623,178 shares of company stock worth $15,560,098. 26.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On C3.ai

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in C3.ai by 267.9% during the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock worth $3,788,000 after acquiring an additional 132,056 shares during the period. NewEdge Advisors LLC grew its position in shares of C3.ai by 48.7% in the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares during the period. Woodline Partners LP acquired a new stake in shares of C3.ai in the first quarter valued at about $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of C3.ai by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock worth $5,111,000 after purchasing an additional 10,675 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in shares of C3.ai by 2.6% during the first 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 in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Down 0.4%

Shares of AI opened at $9.21 on Monday. C3.ai has a 52 week low of $7.68 and a 52 week high of $30.24. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -2.92 and a beta of 2.08. The stock’s 50-day moving average price is $9.21 and its 200-day moving average price is $12.94.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The company had revenue of $53.26 million for the quarter, compared to analysts’ expectations of $75.91 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. The firm’s revenue was down 46.1% compared to the same quarter last year. As a group, equities analysts anticipate that C3.ai will post -2.44 EPS for the current fiscal 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.