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

StockNews.com upgraded shares of C3.ai (NYSE:AI) to a sell rating in a research note released on Tuesday morning.

AI has been the topic of several other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler Companies restated a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Finally, Piper Sandler reduced their price objective on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, C3.ai has a consensus rating of “Hold” and a consensus price target of $27.70.

C3.ai Price Performance

AI stock opened at $36.39 on Tuesday. C3.ai has a 1-year low of $18.85 and a 1-year high of $39.88. The business has a 50-day moving average price of $27.08 and a 200 day moving average price of $26.64. The company has a market capitalization of $4.62 billion, a P/E ratio of -15.96 and a beta of 1.80.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate 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 business had revenue of $87.21 million during the quarter, compared to analyst estimates of $86.94 million. During the same quarter in the previous year, the business posted ($0.56) EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, analysts anticipate that C3.ai will post -2.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently modified their holdings of the company. Global Assets Advisory LLC acquired a new position in C3.ai in the third quarter valued at approximately $743,000. Janney Montgomery Scott LLC purchased a new stake in C3.ai during the third quarter worth $785,000. International Assets Investment Management LLC acquired a new stake in C3.ai during the third quarter valued at $10,560,000. Susquehanna Fundamental Investments LLC purchased a new position in C3.ai in the second quarter valued at $3,465,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of C3.ai by 4,860.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock worth $865,000 after acquiring an additional 31,302 shares in the last quarter. Institutional investors and hedge funds 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.