C3.ai (NYSE:AI) Upgraded at Westpark Capital

C3.ai (NYSE:AI - Get Free Report) was upgraded by investment analysts at Westpark Capital to a "strong-buy" rating in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $40.00 target price on the stock. Westpark Capital's target price indicates a potential upside of 45.61% from the company's previous close.

Several other analysts have also recently weighed in on the stock. Morgan Stanley raised their target price on shares of C3.ai from $20.00 to $22.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. KeyCorp reaffirmed a "mixed" rating on shares of C3.ai in a report on Thursday, May 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a report on Thursday, May 29th. Piper Sandler reduced their target price on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Finally, Wall Street Zen cut shares of C3.ai from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $30.14.

C3.ai Price Performance

NYSE AI opened at $27.47 on Wednesday. The firm's 50-day moving average is $24.27 and its two-hundred day moving average is $26.12. C3.ai has a 12 month low of $17.03 and a 12 month high of $45.08. The stock has a market capitalization of $3.69 billion, a P/E ratio of -12.26 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last posted its 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 company had revenue of $108.72 million for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 25.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) earnings per share. As a group, analysts anticipate that C3.ai will post -2.44 EPS for the current year.

Insiders Place Their Bets

In other news, Director John E. Hyten sold 10,000 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the sale, the director directly owned 63,942 shares in the company, valued at approximately $1,518,622.50. This represents a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Hitesh Lath sold 17,689 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $24.96, for a total value of $441,517.44. Following the sale, the chief financial officer owned 166,218 shares of the company's stock, valued at approximately $4,148,801.28. The trade was a 9.62% decrease in their ownership of the stock. 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 three months. 33.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On C3.ai

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake 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 valued at $31,000 after buying an additional 456 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of C3.ai by 8.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company's stock valued at $138,000 after purchasing an additional 510 shares in the last quarter. Legal & General Group Plc boosted its position in shares of C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after purchasing an additional 517 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of C3.ai by 2.4% during the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock valued at $805,000 after purchasing an additional 555 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of C3.ai by 35.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock valued at $71,000 after purchasing an additional 560 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company's stock.

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.