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

C3.ai, Inc. (NYSE:AI) has earned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $27.70.

A number of equities research analysts have recently commented on the company. Piper Sandler cut their price objective on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Bank of America reduced their price objective on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th.

C3.ai Price Performance

Shares of AI opened at $37.18 on Friday. The company has a market cap of $4.72 billion, a P/E ratio of -16.31 and a beta of 1.80. C3.ai has a 12 month low of $18.85 and a 12 month high of $39.88. The stock has a fifty day moving average price of $27.35 and a 200 day moving average price of $26.73.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. During the same quarter in the previous year, the company posted ($0.56) earnings per share. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, research analysts anticipate that C3.ai will post -2.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AI. Hobbs Group Advisors LLC bought a new stake in shares of C3.ai in the 2nd quarter valued at approximately $29,000. Unique Wealth Strategies LLC bought a new stake in C3.ai in the second quarter worth approximately $28,000. Blue Trust Inc. increased its stake in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after purchasing an additional 615 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of C3.ai during the 3rd quarter valued at $25,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of C3.ai by 311.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after purchasing an additional 795 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.