C3.ai, Inc. (NYSE:AI) Receives Average Recommendation of “Reduce” from Brokerages

Shares of C3.ai, Inc. (NYSE:AI) have received a consensus recommendation of “Reduce” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $10.0909.

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Morgan Stanley upped their price target on shares of C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, June 4th. KeyCorp reiterated an “underweight” rating on shares of C3.ai in a report on Thursday, June 4th. DA Davidson reissued an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. Finally, UBS Group raised their price objective on C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th.

C3.ai Stock Performance

AI opened at $10.37 on Friday. C3.ai has a 1 year low of $7.68 and a 1 year high of $20.22. The firm has a 50 day moving average price of $9.46 and a 200 day moving average price of $9.48. The company has a market cap of $1.61 billion, a PE ratio of -3.10 and a beta of 2.08.

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

Insider Activity

In related news, CEO Thomas M. Siebel sold 453,314 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $10.51, for a total transaction of $4,764,330.14. Following the transaction, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at approximately $7,592,024.62. The trade was a 38.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $10.00, for a total value of $200,000.00. Following the completion of the transaction, the chief financial officer owned 363,106 shares of the company’s stock, valued at approximately $3,631,060. This represents a 5.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,259,110 shares of company stock worth $13,281,297. 26.50% of the stock is currently owned by corporate insiders.

Institutional Trading of C3.ai

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of C3.ai by 55.1% in the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after purchasing an additional 1,166,302 shares during the period. Dimensional Fund Advisors LP increased its stake in C3.ai by 77.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock worth $31,284,000 after buying an additional 785,508 shares during the period. Two Sigma Investments LP purchased a new stake in C3.ai during the 3rd quarter worth $13,379,000. Voloridge Investment Management LLC acquired a new position in C3.ai in the 4th quarter worth $9,183,000. Finally, Federated Hermes Inc. lifted its holdings in C3.ai by 93,578.8% in the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock worth $9,105,000 after buying an additional 674,703 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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.