C3.ai (NYSE:AI) Upgraded at StockNews.com

StockNews.com upgraded shares of C3.ai (NYSE:AI) to a sell rating in a research report released on Tuesday.

Several other research analysts also recently commented on AI. Oppenheimer reissued an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Canaccord Genuity Group cut their price target on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Bank of America reduced their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. Wedbush lowered their target price on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.70.

C3.ai Price Performance

Shares of NYSE AI opened at $36.39 on Tuesday. The stock has a market cap of $4.62 billion, a PE ratio of -15.96 and a beta of 1.80. C3.ai has a 1 year low of $18.85 and a 1 year high of $39.88. The firm has a fifty day moving average price of $27.08 and a 200-day moving average price of $26.64.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The business had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm earned ($0.56) earnings per share. On average, research analysts expect that C3.ai will post -2.31 EPS for the current year.

Hedge Funds Weigh In On C3.ai

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after acquiring an additional 178,870 shares during the period. Hodges Capital Management Inc. purchased a new stake in shares of C3.ai during the third quarter valued at $1,955,000. State Street Corp grew its holdings in shares of C3.ai by 1.8% in the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after purchasing an additional 38,185 shares during the last quarter. Janus Henderson Group PLC increased its stake in C3.ai by 21.3% in the 3rd quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock worth $1,265,000 after buying an additional 9,160 shares during the period. Finally, Holocene Advisors LP lifted its holdings in C3.ai by 98.4% during the 3rd quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock valued at $1,836,000 after buying an additional 37,594 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

C3.ai Company Profile

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.