C3.ai’s (AI) “Hold” Rating Reiterated at Needham & Company LLC

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

Other research analysts have also issued reports about the stock. DA Davidson upgraded shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. KeyCorp lowered shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target on the stock. in a research note on Thursday, December 19th. Canaccord Genuity Group boosted their price target on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley upped their target price on shares of C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. Finally, Northland Securities upped their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.33.

C3.ai Stock Performance

Shares of NYSE:AI opened at $23.44 on Thursday. The company has a 50-day simple moving average of $32.39 and a 200-day simple moving average of $29.57. C3.ai has a one year low of $18.85 and a one year high of $45.08. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -10.61 and a beta of 1.98.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. As a group, research analysts forecast that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 11,339 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the sale, the chief financial officer now owns 851 shares of the company’s stock, valued at $35,742. This represents a 93.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $430,500. This trade represents a 98.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock valued at $59,736,620 over the last quarter. Corporate insiders own 33.54% of the company’s stock.

Hedge Funds Weigh In On C3.ai

Several institutional investors and hedge funds have recently modified their holdings of the company. Total Wealth Planning & Management Inc. purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $339,000. Mackenzie Financial Corp purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $229,000. Jupiter Wealth Management LLC purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $387,000. GF Fund Management CO. LTD. purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $4,441,000. Finally, Neo Ivy Capital Management purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $3,680,000. Hedge funds and other institutional investors 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.