C3.ai’s (AI) Neutral Rating Reaffirmed at Piper Sandler Companies

C3.ai (NYSE:AI)‘s stock had its “neutral” rating reiterated by analysts at Piper Sandler Companies in a research note issued on Thursday, Stock Target Advisor reports. They presently have a $24.00 price objective on the stock. Piper Sandler Companies’ price objective points to a potential upside of 4.30% from the company’s current price.

A number of other research analysts also recently issued reports on AI. Wedbush reaffirmed an “outperform” rating and set a $40.00 price target on shares of C3.ai in a report on Wednesday, May 29th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note 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 target on the stock in a report on Thursday, May 30th. Canaccord Genuity Group decreased their price objective on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Finally, Piper Sandler lowered their price objective on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.89.

C3.ai Stock Performance

NYSE:AI opened at $23.01 on Thursday. The firm has a market cap of $2.87 billion, a P/E ratio of -9.83 and a beta of 1.83. C3.ai has a fifty-two week low of $20.23 and a fifty-two week high of $38.30. The firm has a 50-day simple moving average of $26.55 and a two-hundred day simple moving average of $26.76.

Insider Activity at C3.ai

In other news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the completion of the sale, the chief financial officer now directly owns 7,390 shares in the company, valued at approximately $203,668.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 34.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AI. Toth Financial Advisory Corp boosted its holdings in C3.ai by 900.0% in the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 900 shares during the period. Unique Wealth Strategies LLC purchased a new position in shares of C3.ai in the second quarter valued at about $28,000. Blue Trust Inc. boosted its stake in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of C3.ai during the fourth quarter worth about $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in C3.ai during the 2nd quarter valued at approximately $29,000. 38.96% of the stock is currently owned by institutional investors.

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.