C3.ai, Inc. (NYSE:AI) Given Consensus Recommendation of "Hold" by Brokerages

Shares of C3.ai, Inc. (NYSE:AI - Get Free Report) have been given an average rating of "Hold" by the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $29.58.

A number of equities analysts have issued reports on AI shares. Canaccord Genuity Group lowered their price target on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Piper Sandler reduced their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. DA Davidson dropped their price target on C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, KeyCorp reduced their price objective on C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th.

Insider Activity

In other news, CEO Thomas M. Siebel sold 13,567 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total value of $264,149.49. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the transaction, the vice president now owns 7,287 shares in the company, valued at $162,135.75. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,529,051 shares of company stock valued at $34,028,030 in the last 90 days. Company insiders own 33.54% of the company's stock.

Institutional Investors Weigh In On C3.ai

A number of hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its stake in shares of C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after buying an additional 22,949 shares during the period. McGuire Investment Group LLC purchased a new position in C3.ai in the fourth quarter valued at $316,000. Geneos Wealth Management Inc. raised its position in shares of C3.ai by 72.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company's stock worth $46,000 after acquiring an additional 555 shares in the last quarter. PFG Investments LLC raised its holdings in C3.ai by 4.6% during the fourth quarter. PFG Investments LLC now owns 23,290 shares of the company's stock worth $802,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in C3.ai during the 4th quarter worth $633,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Trading Up 4.1%

Shares of NYSE:AI opened at $22.76 on Friday. C3.ai has a 12-month low of $17.03 and a 12-month high of $45.08. The business has a 50 day moving average of $21.67 and a two-hundred day moving average of $28.42. The company has a market capitalization of $3.02 billion, a PE ratio of -10.30 and a beta of 1.99.

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

C3.ai Company Profile

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.

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