C3.ai (NYSE:AI) Stock Rating Upgraded by Wall Street Zen

C3.ai (NYSE:AI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

Several other analysts also recently issued reports on AI. Canaccord Genuity Group reiterated a “hold” rating and set a $10.00 price target on shares of C3.ai in a research note on Thursday, September 3rd. Weiss Ratings upgraded C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. DA Davidson reiterated an “underperform” rating and set a $7.00 price target on shares of C3.ai in a report on Tuesday, September 1st. Wedbush restated an “outperform” rating and issued a $15.00 price objective on shares of C3.ai in a research note on Thursday, June 4th. Finally, KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, C3.ai has a consensus rating of “Reduce” and a consensus price target of $8.70.

C3.ai Price Performance

Shares of NYSE AI opened at $11.19 on Friday. C3.ai has a one year low of $7.68 and a one year high of $20.22. The business’s 50-day moving average price is $9.72 and its two-hundred day moving average price is $9.44. The company has a market capitalization of $1.74 billion, a P/E ratio of -3.63 and a beta of 2.10.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%.The business had revenue of $52.38 million during the quarter, compared to analyst estimates of $52.06 million. During the same period in the previous year, the company earned ($0.37) EPS. The firm’s revenue was down 25.4% on a year-over-year basis. On average, equities analysts anticipate that C3.ai will post -2.22 EPS for the current year.

Insider Activity

In other C3.ai news, CFO Hitesh Lath sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $10.00, for a total value of $200,000.00. Following the sale, the chief financial officer directly owned 363,106 shares in the company, valued at $3,631,060. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas M. Siebel sold 16,890 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $10.30, for a total transaction of $173,967.00. Following the transaction, the chief executive officer directly owned 738,208 shares of the company’s stock, valued at $7,603,542.40. This represents a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 728,865 shares of company stock valued at $7,382,903. 19.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On C3.ai

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new stake in shares of C3.ai during the 2nd quarter worth approximately $106,000. Engineers Gate Manager LP bought a new position in C3.ai in the second quarter worth $2,855,000. Allworth Financial LP boosted its stake in C3.ai by 13.6% during the second quarter. Allworth Financial LP now owns 26,660 shares of the company’s stock worth $242,000 after buying an additional 3,185 shares in the last quarter. Arizona State Retirement System boosted its stake in C3.ai by 3.7% during the second quarter. Arizona State Retirement System now owns 37,168 shares of the company’s stock worth $338,000 after buying an additional 1,310 shares in the last quarter. Finally, Nykredit A S bought a new stake in C3.ai in the 2nd quarter valued at $84,000. 38.96% of the stock is currently owned by institutional investors.

About C3.ai

C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.

The company’s offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.