Analysts Set C3.ai, Inc. (NYSE:AI) PT at $27.43

Key Points

• C3.ai, Inc. has received a consensus rating of "Reduce" from analysts, with five recommending a sell, eight a hold, and only two a buy.
• The stock is currently trading at $16.89, significantly lower than its fifty-two week high of $45.08.
• Insider transactions reveal a notable sell-off, with CEO Thomas M. Siebel selling over 577,000 shares, representing a 16.27% decrease in his ownership.

Shares of C3.ai, Inc. (NYSE:AI - Get Free Report) have been assigned an average recommendation of "Reduce" from the sixteen research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $27.4286.

A number of research firms have recently weighed in on AI. Westpark Capital upgraded shares of C3.ai to a "strong-buy" rating and set a $40.00 price target for the company in a research report on Wednesday, July 9th. Morgan Stanley lifted their price target on shares of C3.ai from $20.00 to $22.00 and gave the company an "underweight" rating in a research report on Thursday, May 29th. DA Davidson reiterated an "underperform" rating and set a $13.00 price target (down previously from $25.00) on shares of C3.ai in a research report on Monday, August 11th. Canaccord Genuity Group lowered their price objective 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. Finally, Wall Street Zen cut C3.ai from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th.

Insiders Place Their Bets

In other news, Director John E. Hyten sold 10,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $23.75, for a total value of $237,500.00. Following the completion of the transaction, the director owned 63,942 shares of the company's stock, valued at approximately $1,518,622.50. This represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hitesh Lath sold 17,689 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $24.96, for a total transaction of $441,517.44. Following the completion of the transaction, the chief financial officer directly owned 166,218 shares of the company's stock, valued at $4,148,801.28. This trade represents a 9.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,168,568 shares of company stock valued at $50,846,936 in the last quarter. Corporate insiders own 26.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Garde Capital Inc. bought a new stake in shares of C3.ai during the first quarter worth $29,000. Orion Capital Management LLC acquired a new position in C3.ai in the 4th quarter worth about $34,000. CX Institutional acquired a new position in C3.ai in the 1st quarter worth about $34,000. Raiffeisen Bank International AG bought a new position in C3.ai in the fourth quarter valued at about $36,000. Finally, Versant Capital Management Inc boosted its stake in shares of C3.ai by 417.5% during the first quarter. Versant Capital Management Inc now owns 1,868 shares of the company's stock valued at $39,000 after purchasing an additional 1,507 shares in the last quarter. Institutional investors own 38.96% of the company's stock.

C3.ai Stock Performance

Shares of NYSE AI traded down $0.42 during midday trading on Friday, reaching $16.89. The company's stock had a trading volume of 6,670,038 shares, compared to its average volume of 10,930,614. C3.ai has a fifty-two week low of $14.70 and a fifty-two week high of $45.08. The business's 50 day moving average price is $23.02 and its two-hundred day moving average price is $23.10. The company has a market cap of $2.27 billion, a P/E ratio of -7.54 and a beta of 1.98.

C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. The company had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm's quarterly revenue was up 25.5% on a year-over-year basis. Sell-side analysts forecast 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.