C3.ai (NYSE:AI) Stock Rating Raised to “Outperform” at Northland Securities

C3.ai (NYSE:AI) was upgraded by analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat.com reports. The firm presently has a $16.00 price target on the stock. Northland Securities’ price objective would suggest a potential upside of 38.15% from the stock’s current price.

Several other research firms also recently issued reports on AI. UBS Group restated an “underperform” rating on shares of C3.ai in a report on Tuesday, September 1st. Canaccord Genuity Group reissued a “hold” rating and issued a $10.00 price objective on shares of C3.ai in a report on Thursday, September 3rd. Citizens Jmp reiterated a “market perform” rating on shares of C3.ai in a research report on Tuesday, September 29th. Wall Street Zen upgraded C3.ai from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $9.36.

C3.ai Trading Up 0.5%

Shares of NYSE AI opened at $11.58 on Monday. The stock has a fifty day moving average price of $10.55 and a 200 day moving average price of $9.72. The company has a market cap of $1.86 billion, a P/E ratio of -3.76 and a beta of 2.11. C3.ai has a 12-month low of $7.68 and a 12-month high of $19.80.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.06. The business had revenue of $52.38 million for the quarter, compared to the consensus estimate of $52.06 million. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%. The company’s revenue was down 25.4% on a year-over-year basis. During the same period last year, the business posted ($0.37) EPS. On average, sell-side analysts forecast that C3.ai will post -2.21 EPS for the current fiscal year.

Insider Activity

In related news, CEO Thomas Siebel sold 453,314 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total value of $4,764,330.14. Following the sale, the chief executive officer directly owned 722,362 shares in the company, valued at $7,592,024.62. The trade was a 38.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 21,077 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $10.48, for a total value of $220,886.96. Following the sale, the chief financial officer directly owned 371,036 shares of the company’s stock, valued at approximately $3,888,457.28. This represents a 5.38% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 1,117,809 shares of company stock valued at $11,724,230. Insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On C3.ai

A number of large investors have recently added to or reduced their stakes in AI. Royal Bank of Canada raised its holdings in C3.ai by 418.7% in the 1st quarter. Royal Bank of Canada now owns 177,527 shares of the company’s stock worth $1,495,000 after acquiring an additional 143,303 shares during the period. Renaissance Technologies LLC bought a new stake in shares of C3.ai in the first quarter valued at approximately $934,000. Bank of America Corp DE increased its position in C3.ai by 55.1% during the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock worth $27,636,000 after acquiring an additional 1,166,302 shares during the period. First Trust Advisors LP increased its position in C3.ai by 67.3% during the first quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock worth $10,233,000 after acquiring an additional 488,710 shares during the period. Finally, Edgestream Partners L.P. grew its position in C3.ai by 247.5% in the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock worth $5,545,000 after purchasing an additional 469,057 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

More C3.ai News

Here are the key news stories impacting C3.ai this week:

• Positive Sentiment: Northland upgraded C3.ai to Outperform from Market Perform and raised its price target to $16 from $10. Analyst Mike Latimore cited a potential “new growth engine” and easier year-over-year comparisons, implying substantial upside from the prior closing price. C3.ai Soars 10% as Northland Upgrade Sees “New Growth Engine” and Easing Comps Northland analyst says it’s time to hop back into C3.ai stock
• Positive Sentiment: The Northland call helped C3.ai outperform several other “agentic” software names, highlighting improved investor sentiment toward the company relative to peers. SoundHound AI Slides 5% to Fresh Lows While C3.ai Climbs 4% on Northland Upgrade; UiPath Slips
• Positive Sentiment: A broader surge in enterprise software stocks provided an additional sector-level tailwind for C3.ai. C3.ai jumps 10% at the open as enterprise software stocks surge
• Neutral Sentiment: Wall Street Zen raised its rating on C3.ai to Hold, signaling a less negative stance but not a clearly bullish recommendation. C3.ai Raised to Hold at Wall Street Zen
• Negative Sentiment: UBS said C3.ai’s business needs several more quarters to stabilize, tempering the upgrade-driven optimism and emphasizing execution risk before a sustained recovery. C3.ai Needs More Quarters to Stabilize, UBS Says

About C3.ai

C3.ai, Inc is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations use AI and machine learning to analyze data, automate processes and support business decision-making. The company’s offerings are intended for large commercial enterprises, government agencies and other organizations managing complex operational and data environments.

Its product portfolio includes the C3 AI Platform, which provides capabilities for developing, deploying and operating AI applications, as well as prebuilt enterprise applications.