C3.ai, Inc. (NYSE:AI) Receives $27.70 Consensus Target Price from Brokerages

Shares of C3.ai, Inc. (NYSE:AI) have earned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $27.70.

A number of equities analysts recently weighed in on the stock. Piper Sandler Companies restated a “neutral” rating and set a $24.00 target price on shares of C3.ai in a report on Thursday, September 5th. JMP Securities restated a “market outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler decreased their price objective on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Morgan Stanley decreased their price objective on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. Finally, Wedbush decreased their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

C3.ai Stock Up 0.3 %

NYSE AI opened at $23.34 on Friday. C3.ai has a 12-month low of $18.85 and a 12-month high of $38.30. The company has a market capitalization of $2.91 billion, a PE ratio of -9.97 and a beta of 1.81. The firm’s 50 day moving average is $25.23 and its 200-day moving average is $26.23.

C3.ai (NYSE:AI) last posted its quarterly earnings data 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. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The company had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. During the same period last year, the company earned ($0.56) earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts expect that C3.ai will post -2.32 EPS for the current year.

Insider Buying and Selling

In other news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 34.00% of the stock is currently owned by company insiders.

Institutional Trading of C3.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of C3.ai by 2.1% during the 2nd quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after buying an additional 432 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of C3.ai by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after buying an additional 462 shares in the last quarter. Forum Financial Management LP boosted its holdings in shares of C3.ai by 4.4% during the 2nd quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after buying an additional 539 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of C3.ai by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after buying an additional 572 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of C3.ai by 6.2% during the 1st quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock worth $277,000 after buying an additional 600 shares in the last quarter. 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.