DA Davidson Lowers C3.ai (NYSE:AI) Price Target to $18.00

C3.ai (NYSE:AI) had its target price lowered by DA Davidson from $25.00 to $18.00 in a report released on Monday, MarketBeat Ratings reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group lowered their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Piper Sandler lowered their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. KeyCorp cut their price target on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Morgan Stanley lowered their price objective on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.92.

C3.ai Price Performance

NYSE:AI opened at $19.37 on Monday. C3.ai has a 12-month low of $17.03 and a 12-month high of $45.08. The business has a 50 day simple moving average of $23.77 and a 200 day simple moving average of $28.95. The firm has a market capitalization of $2.57 billion, a P/E ratio of -8.76 and a beta of 2.01.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Research analysts anticipate that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of C3.ai stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total transaction of $264,149.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas M. Siebel sold 552,422 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total value of $18,252,022.88. Following the completion of the sale, the chief executive officer now owns 1,336,968 shares in the company, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,446,967 shares of company stock worth $37,175,326 over the last three months. Corporate insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

Several hedge funds have recently modified their holdings of AI. Wealth Enhancement Advisory Services LLC lifted its position in C3.ai by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,812 shares of the company’s stock valued at $375,000 after purchasing an additional 1,632 shares during the period. CX Institutional acquired a new position in C3.ai in the first quarter valued at about $34,000. Handelsbanken Fonder AB grew its position in shares of C3.ai by 43.3% during the 1st quarter. Handelsbanken Fonder AB now owns 38,400 shares of the company’s stock worth $808,000 after buying an additional 11,600 shares during the period. SG Americas Securities LLC raised its position in shares of C3.ai by 41.0% in the 1st quarter. SG Americas Securities LLC now owns 15,073 shares of the company’s stock valued at $317,000 after acquiring an additional 4,381 shares during the period. Finally, Cerro Pacific Wealth Advisors LLC acquired a new stake in C3.ai in the first quarter worth $214,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

About C3.ai

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.