C3.ai (NYSE:AI) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded C3.ai from “Sell” to “Hold,” but the broader analyst consensus remains “Reduce,” with one Buy, four Hold, and seven Sell ratings and an average price target of $8.70.
• C3.ai reported a quarterly loss of $0.20 per share, beating estimates of $0.26, while revenue of $52.38 million slightly exceeded expectations but fell 25.4% year over year. The company continues to post significant losses, including a negative net margin of 192.10%.
• Shares opened at $11.52, above the consensus price target, while company insiders sold more than 1.1 million shares worth approximately $11.7 million over the past three months. Institutional investors, however, own nearly 39% of the stock.

C3.ai (NYSE:AI - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Citizens Jmp restated a "market perform" rating on shares of C3.ai in a research note on Tuesday, September 29th. Weiss Ratings upgraded C3.ai from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 4th. Canaccord Genuity Group reissued a "hold" rating and issued a $10.00 price target on shares of C3.ai in a report on Thursday, September 3rd. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, September 3rd. Finally, UBS Group reaffirmed an "underperform" rating on shares of C3.ai in a research note on Tuesday, September 1st. One analyst has rated the stock with a Buy rating, four have given a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, C3.ai presently has a consensus rating of "Reduce" and an average price target of $8.70.

C3.ai Price Performance

Shares of AI stock opened at $11.52 on Friday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -3.74 and a beta of 2.11. The company's fifty day simple moving average is $10.51 and its two-hundred day simple moving average is $9.69. C3.ai has a 1 year low of $7.68 and a 1 year high of $19.80.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.06. The firm had revenue of $52.38 million during the quarter, compared to analyst estimates of $52.06 million. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%. The business's revenue for the quarter was down 25.4% on a year-over-year basis. During the same period last year, the company earned ($0.37) earnings per share. Equities research analysts anticipate that C3.ai will post -2.21 EPS for the current year.

Insider Buying and Selling at C3.ai

In other news, CEO Thomas M. Siebel sold 162,247 shares of C3.ai stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $10.54, for a total transaction of $1,710,083.38. Following the completion of the sale, the chief executive officer owned 722,362 shares in the company, valued at approximately $7,613,695.48. This trade represents a 18.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 21,077 shares of the business's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $10.48, for a total value of $220,886.96. Following the transaction, the chief financial officer directly owned 371,036 shares of the company's stock, valued at $3,888,457.28. The trade was a 5.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,117,809 shares of company stock valued at $11,724,230 in the last three months. 19.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of AI. Bank of America Corp DE increased its holdings in shares of C3.ai by 55.1% in the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company's stock worth $27,636,000 after buying an additional 1,166,302 shares during the last quarter. First Trust Advisors LP grew its position in C3.ai by 67.3% in the first quarter. First Trust Advisors LP now owns 1,215,341 shares of the company's stock worth $10,233,000 after acquiring an additional 488,710 shares in the last quarter. EVR Research LP grew its position in C3.ai by 223.8% in the fourth quarter. EVR Research LP now owns 600,400 shares of the company's stock worth $8,093,000 after acquiring an additional 415,000 shares in the last quarter. Bank of New York Mellon Corp increased its stake in C3.ai by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 690,694 shares of the company's stock valued at $5,816,000 after acquiring an additional 5,631 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in C3.ai by 247.5% during the first quarter. Edgestream Partners L.P. now owns 658,573 shares of the company's stock valued at $5,545,000 after purchasing an additional 469,057 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

About C3.ai

C3.ai, Inc is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations use AI and machine learning to analyze data, automate processes and support business decision-making. The company's offerings are intended for large commercial enterprises, government agencies and other organizations managing complex operational and data environments.

Its product portfolio includes the C3 AI Platform, which provides capabilities for developing, deploying and operating AI applications, as well as prebuilt enterprise applications.

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