C3.ai (NYSE:AI) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of C3.ai (NYSE:AI) in a research note issued to investors on Thursday, Benzinga reports.

A number of other brokerages have also weighed in on AI. Wedbush restated an outperform rating and issued a $40.00 target price on shares of C3.ai in a research note on Wednesday, May 29th. Northland Securities upgraded shares of 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. Piper Sandler reduced their target price 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. Canaccord Genuity Group lowered their price target 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, Northland Capmk raised C3.ai from a hold rating to a strong-buy rating in a report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, C3.ai has an average rating of Hold and a consensus price target of $27.70.

C3.ai Stock Down 8.2 %

Shares of C3.ai stock opened at $21.12 on Thursday. The stock has a market capitalization of $2.64 billion, a P/E ratio of -9.03 and a beta of 1.83. C3.ai has a 12-month low of $18.85 and a 12-month high of $38.30. The company has a 50-day simple moving average of $26.31 and a 200 day simple moving average of $26.69.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. C3.ai’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.56) earnings per share. On average, equities analysts anticipate that C3.ai will post -2.35 earnings per share for the current year.

Insider Transactions at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction dated 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 owns 7,390 shares in the company, valued at $203,668.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 34.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in C3.ai by 32.6% in the fourth quarter. New York State Common Retirement Fund now owns 33,135 shares of the company’s stock worth $951,000 after purchasing an additional 8,141 shares during the period. Atria Wealth Solutions Inc. bought a new position in C3.ai during the fourth quarter worth about $202,000. Victory Capital Management Inc. grew its stake in C3.ai by 26.1% in the fourth quarter. Victory Capital Management Inc. now owns 13,637 shares of the company’s stock valued at $392,000 after acquiring an additional 2,820 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of C3.ai in the fourth quarter worth about $350,000. Finally, Amalgamated Bank raised its position in shares of C3.ai by 25.8% during the fourth quarter. Amalgamated Bank now owns 10,336 shares of the company’s stock worth $297,000 after purchasing an additional 2,121 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

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.