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

Key Points

• C3.ai has received a consensus rating of "Hold" from fifteen brokerages, highlighting mixed sentiments with four sell ratings, six hold ratings, four buy ratings, and one strong buy rating.
• The average 1-year price target for C3.ai among analysts is $29.79, with notable price adjustments from firms like Canaccord Genuity and Morgan Stanley.
• Insider transactions show significant sales, including CEO Thomas M. Siebel selling 336,000 shares at an average price of $22.77, leading to a 50.92% decrease in his ownership of the stock.

C3.ai, Inc. (NYSE:AI - Get Free Report) has been assigned a consensus rating of "Hold" from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have 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 issued ratings on the stock in the last year is $29.7857.

A number of equities analysts have commented on AI shares. Canaccord Genuity Group lowered their price objective on C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Morgan Stanley boosted their price target on C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a report on Thursday, May 29th. JPMorgan Chase & Co. lowered their price target on C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a report on Thursday, May 29th. KeyCorp reissued a "mixed" rating on shares of C3.ai in a report on Thursday, May 29th. Finally, Wall Street Zen raised C3.ai from a "sell" rating to a "hold" rating in a report on Saturday, July 12th.

Insider Transactions at C3.ai

In other news, Director John E. Hyten sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the completion of the transaction, the director directly owned 63,942 shares of the company's stock, valued at $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 SEC, which is available at this hyperlink. Also, CEO Thomas M. Siebel sold 336,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $22.77, for a total value of $7,650,720.00. Following the completion of the transaction, the chief executive officer directly owned 323,916 shares of the company's stock, valued at approximately $7,375,567.32. This represents a 50.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,298,892 shares of company stock valued at $58,428,808. Corporate insiders own 33.54% of the company's stock.

Hedge Funds Weigh In On C3.ai

Several institutional investors and hedge funds have recently bought and sold shares of AI. Russell Investments Group Ltd. boosted its holdings in shares of C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after acquiring an additional 456 shares during the period. Bogart Wealth LLC boosted its holdings in shares of C3.ai by 22.7% in the second quarter. Bogart Wealth LLC now owns 2,700 shares of the company's stock worth $66,000 after acquiring an additional 500 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of C3.ai by 8.4% in the first quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company's stock worth $138,000 after acquiring an additional 510 shares during the period. Legal & General Group Plc boosted its holdings in shares of C3.ai by 0.4% in the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock worth $4,102,000 after acquiring an additional 517 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of C3.ai by 35.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock worth $71,000 after acquiring an additional 560 shares during the period. 38.96% of the stock is owned by institutional investors.

C3.ai Stock Up 0.5%

AI opened at $23.30 on Wednesday. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -10.40 and a beta of 1.98. The business has a 50 day moving average of $25.47 and a 200-day moving average of $25.00. 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 quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04. The business had revenue of $108.72 million during the quarter, compared to analysts' expectations of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The firm's revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) EPS. As a group, analysts expect 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.

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