C3.ai, Inc. (NYSE:AI) Receives Consensus Rating of "Hold" from Brokerages

C3.ai, Inc. (NYSE:AI - Get Free Report) has been given an average recommendation of "Hold" by the fifteen analysts that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $30.14.

A number of analysts have issued reports on AI shares. Piper Sandler decreased their price target on C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Oppenheimer reduced their price objective on C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. Morgan Stanley raised their target price on shares of C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research report on Thursday, May 29th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. Finally, Westpark Capital raised shares of C3.ai to a "strong-buy" rating and set a $40.00 price objective on the stock in a research report on Wednesday, July 9th.

Insiders Place Their Bets

In related news, VP Merel Witteveen sold 5,485 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $23.95, for a total value of $131,365.75. Following the sale, the vice president owned 13,740 shares in the company, valued at $329,073. This represents a 28.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard C. Levin sold 6,000 shares of C3.ai stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $26.31, for a total value of $157,860.00. Following the transaction, the director directly owned 161,664 shares of the company's stock, valued at $4,253,379.84. This trade represents a 3.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,414,001 shares of company stock worth $34,796,754. Corporate insiders own 33.54% of the company's stock.

Institutional Investors Weigh In On C3.ai

A number of large investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC acquired a new position in shares of C3.ai in the second quarter valued at approximately $328,000. Family Legacy Financial Solutions LLC acquired a new position in shares of C3.ai in the second quarter valued at approximately $103,000. Strs Ohio acquired a new position in shares of C3.ai in the first quarter valued at approximately $177,000. Acadian Asset Management LLC acquired a new position in shares of C3.ai in the first quarter valued at approximately $2,983,000. Finally, Intech Investment Management LLC boosted its holdings in shares of C3.ai by 75.7% during the first quarter. Intech Investment Management LLC now owns 88,507 shares of the company's stock worth $1,863,000 after purchasing an additional 38,135 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company's stock.

C3.ai Trading Up 1.2%

NYSE:AI traded up $0.33 during midday trading on Friday, reaching $27.13. The company had a trading volume of 4,035,951 shares, compared to its average volume of 5,315,836. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of -12.16 and a beta of 1.99. The stock's fifty day simple moving average is $24.54 and its 200-day simple moving average is $25.79. C3.ai has a 12-month low of $17.03 and a 12-month high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. The firm had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. C3.ai's revenue was up 25.5% compared to the same quarter last year. During the same period last year, the business posted ($0.11) earnings per share. As a group, sell-side analysts expect that C3.ai will post -2.44 EPS for the current year.

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.