C3.ai, Inc. (NYSE:AI) Given Average Rating of “Hold” by Analysts

C3.ai, Inc. (NYSE:AI) has been assigned a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $31.30.

Several equities analysts have issued reports on AI shares. Piper Sandler decreased their price objective on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Northland Securities raised shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Thursday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley raised their price target on shares of C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th.

C3.ai Stock Performance

Shares of NYSE AI opened at $28.61 on Tuesday. The company’s fifty day moving average price is $26.55 and its 200 day moving average price is $27.13. C3.ai has a 1 year low of $20.23 and a 1 year high of $44.90. The company has a market capitalization of $3.57 billion, a PE ratio of -12.23 and a beta of 1.83.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.18. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The firm had revenue of $86.59 million for the quarter, compared to the consensus estimate of $84.45 million. On average, equities analysts expect that C3.ai will post -2.35 EPS for the current year.

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the completion of the transaction, the chief financial officer now owns 7,390 shares in the company, valued at $203,668.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 34.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in C3.ai by 4,860.6% in the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock valued at $865,000 after acquiring an additional 31,302 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in C3.ai during the 1st quarter worth approximately $38,000. Cetera Advisors LLC acquired a new position in C3.ai during the first quarter worth approximately $465,000. Virtu Financial LLC increased its position in C3.ai by 541.6% during the first quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock worth $2,943,000 after buying an additional 91,774 shares during the period. Finally, Montchanin Asset Management LLC acquired a new position in shares of C3.ai in the 1st quarter valued at $297,000. Hedge funds and other institutional investors 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.