C3.ai, Inc. (NYSE:AI) Given Average Rating of "Reduce" by Brokerages

Key Points

• C3.ai has a consensus analyst rating of "Reduce" from 14 firms, with six sell ratings, six hold ratings, one buy, and one strong buy. The average 1-year price target is about $12.92.
• The company reported better-than-expected Q3 earnings, posting an EPS loss of ($0.33) versus estimates of ($0.38), while revenue came in at $51.6 million in line with expectations. However, revenue was still down 52.5% from a year earlier.
• Insider selling has been notable, including CEO Thomas M. Siebel’s sale of 472,005 shares and CEO Stephen Bradley Ehikian’s sale of 52,194 shares. Insiders have sold a total of 1.6 million shares worth about $15.1 million over the last quarter.

C3.ai, Inc. (NYSE:AI - Get Free Report) has been assigned a consensus rating of "Reduce" from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $12.9231.

Several analysts have commented on AI shares. Morgan Stanley raised their price objective on C3.ai from $6.00 to $7.00 and gave the company an "underweight" rating in a report on Thursday, June 4th. Wedbush reiterated an "outperform" rating and issued a $15.00 price objective on shares of C3.ai in a report on Thursday, June 4th. KeyCorp reissued an "underweight" rating on shares of C3.ai in a research note on Thursday, June 4th. DA Davidson reaffirmed an "underperform" rating and set a $7.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group upped their target price on C3.ai from $8.00 to $10.00 and gave the company a "hold" rating in a research report on Thursday, June 4th.

C3.ai Stock Performance

C3.ai stock opened at $8.90 on Friday. The stock has a 50-day moving average of $9.70 and a two-hundred day moving average of $10.73. C3.ai has a one year low of $7.68 and a one year high of $30.11. The stock has a market cap of $1.29 billion, a PE ratio of -2.66 and a beta of 2.04.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The firm had revenue of $51.60 million during the quarter, compared to analysts' expectations of $51.60 million. During the same period last year, the business posted ($0.16) earnings per share. The company's revenue for the quarter was down 52.5% compared to the same quarter last year. As a group, sell-side analysts predict that C3.ai will post -2.28 EPS for the current fiscal year.

Insider Activity

In related news, CEO Stephen Bradley Ehikian sold 52,194 shares of C3.ai stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $8.22, for a total value of $429,034.68. Following the sale, the chief executive officer directly owned 721,485 shares in the company, valued at $5,930,606.70. The trade was a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas M. Siebel sold 472,005 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.11, for a total value of $5,243,975.55. Following the completion of the sale, the chief executive officer owned 722,362 shares in the company, valued at $8,025,441.82. This represents a 39.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,599,644 shares of company stock valued at $15,059,516 over the last quarter. Corporate insiders own 26.50% of the company's stock.

Institutional Investors Weigh In On C3.ai

A number of large investors have recently modified their holdings of AI. AQR Capital Management LLC increased its holdings in C3.ai by 267.9% in the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company's stock valued at $3,788,000 after buying an additional 132,056 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in C3.ai by 48.7% in the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company's stock worth $51,000 after purchasing an additional 800 shares during the period. Woodline Partners LP acquired a new position in C3.ai in the first quarter worth $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in C3.ai by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company's stock worth $5,111,000 after purchasing an additional 10,675 shares during the period. Finally, Focus Partners Wealth boosted its holdings in C3.ai by 2.6% in the first quarter. Focus Partners Wealth now owns 59,004 shares of the company's stock worth $1,242,000 after purchasing an additional 1,503 shares during the period. Institutional investors and hedge funds own 38.96% of the company's stock.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company's core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.