C3.ai (NYSE:AI) Upgraded to Sell at StockNews.com

C3.ai (NYSE:AI) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research report issued on Tuesday.

AI has been the topic of several other reports. Piper Sandler reduced their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. DA Davidson reduced their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Piper Sandler Companies restated a “neutral” rating and set a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Bank of America reduced their target price on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, C3.ai has an average rating of “Hold” and an average price target of $27.70.

C3.ai Price Performance

Shares of NYSE AI opened at $27.25 on Tuesday. C3.ai has a 12 month low of $18.85 and a 12 month high of $38.30. The stock has a 50-day moving average price of $24.64 and a two-hundred day moving average price of $25.94.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.08. The firm had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.56) earnings per share. Equities analysts forecast that C3.ai will post -2.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C3.ai

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of C3.ai by 3.1% during the first quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock worth $288,239,000 after purchasing an additional 317,768 shares during the period. Charles Schwab Investment Management Inc. raised its position in C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares during the last quarter. Bank of New York Mellon Corp raised its position in C3.ai by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after buying an additional 1,929 shares during the last quarter. Raymond James & Associates raised its position in C3.ai by 11.5% in the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock valued at $5,829,000 after buying an additional 20,753 shares during the last quarter. Finally, Swiss National Bank raised its position in C3.ai by 1.6% in the 1st quarter. Swiss National Bank now owns 195,200 shares of the company’s stock valued at $5,284,000 after buying an additional 3,000 shares during the last quarter. 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.