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

Shares of C3.ai, Inc. (NYSE:AI - Get Free Report) have earned a consensus recommendation of "Hold" from the fifteen research firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $30.14.

AI has been the subject of several recent research reports. Canaccord Genuity Group decreased their price target on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. DA Davidson decreased their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. KeyCorp reiterated a "mixed" rating on shares of C3.ai in a research report on Thursday, May 29th. Westpark Capital upgraded shares of C3.ai to a "strong-buy" rating and set a $40.00 price objective for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a research report on Thursday, May 29th.

Insider Transactions at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 17,689 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $24.96, for a total value of $441,517.44. Following the transaction, the chief financial officer owned 166,218 shares in the company, valued at approximately $4,148,801.28. This trade represents a 9.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen M. Ward, Jr. sold 42,382 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $26.32, for a total value of $1,115,494.24. Following the completion of the transaction, the director owned 546,495 shares in the company, valued at $14,383,748.40. The trade was a 7.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,770,419 shares of company stock worth $41,992,834 over the last ninety days. 33.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AI. Vanguard Group Inc. grew its position in C3.ai by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 13,407,490 shares of the company's stock valued at $282,228,000 after acquiring an additional 471,521 shares in the last quarter. Geode Capital Management LLC grew its position in shares of C3.ai by 14.1% during the fourth quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock worth $87,128,000 after buying an additional 313,066 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of C3.ai by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,157,303 shares of the company's stock worth $45,414,000 after buying an additional 91,923 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of C3.ai during the fourth quarter worth about $42,306,000. Finally, Man Group plc acquired a new position in shares of C3.ai during the fourth quarter worth about $38,455,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

C3.ai Trading Down 1.9%

Shares of AI opened at $26.29 on Friday. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -11.74 and a beta of 1.99. C3.ai has a 1-year low of $17.03 and a 1-year high of $45.08. The company's fifty day simple moving average is $24.44 and its 200 day simple moving average is $26.00.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.