C3.ai (NYSE:AI) Shares Gap Down to $27.45

Shares of C3.ai, Inc. (NYSE:AI) gapped down prior to trading on Friday . The stock had previously closed at $27.45, but opened at $26.75. C3.ai shares last traded at $26.55, with a volume of 236,520 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Thursday, May 30th. Morgan Stanley lifted their price objective on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Piper Sandler dropped their price objective on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.30.

C3.ai Trading Down 0.9 %

The business has a 50 day simple moving average of $25.67 and a 200-day simple moving average of $27.15. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -11.63 and a beta of 1.85.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.18. The business had revenue of $86.59 million for the quarter, compared to analyst estimates of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. Research analysts predict that C3.ai, Inc. will post -2.35 EPS for the current year.

Hedge Funds Weigh In On C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of C3.ai during the 3rd quarter valued at about $25,000. B. Riley Asset Management LLC purchased a new stake in C3.ai during the 3rd quarter worth approximately $26,000. Orion Capital Management LLC purchased a new stake in C3.ai during the 3rd quarter worth approximately $26,000. Toth Financial Advisory Corp increased its holdings in C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in C3.ai during the 4th quarter worth approximately $29,000. 38.96% of the stock is owned by institutional investors and hedge funds.

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.