C3.ai (NYSE:AI) Now Covered by Analysts at Westpark Capital

Westpark Capital started coverage on shares of C3.ai (NYSE:AI - Free Report) in a research report released on Wednesday morning,Benzinga reports. The brokerage issued a buy rating and a $40.00 target price on the stock.

AI has been the topic of several other research reports. UBS Group reduced their price target on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, June 26th. Needham & Company LLC restated a "hold" rating on shares of C3.ai 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 on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating on the stock in a research report on Thursday, May 29th. Finally, Oppenheimer decreased their price target on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $30.14.

C3.ai Stock Up 4.2%

Shares of NYSE:AI traded up $1.10 during midday trading on Wednesday, hitting $27.47. 6,991,898 shares of the stock traded hands, compared to its average volume of 5,302,203. The stock has a market capitalization of $3.69 billion, a PE ratio of -12.26 and a beta of 1.99. The business's 50 day moving average is $24.16 and its two-hundred day moving average is $26.11. C3.ai has a one year low of $17.03 and a one year high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company's quarterly revenue was up 25.5% compared to the same quarter last year. As a group, sell-side analysts forecast that C3.ai will post -2.44 earnings per share for the current year.

Insider Activity at C3.ai

In related news, CEO Thomas M. Siebel sold 13,567 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard C. Levin sold 36,000 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.17, for a total transaction of $1,014,120.00. Following the transaction, the director directly owned 161,664 shares of the company's stock, valued at $4,554,074.88. The trade was a 18.21% 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 valued at $41,992,834 in the last ninety days. Corporate insiders own 33.54% of the company's stock.

Hedge Funds Weigh In On C3.ai

Several institutional investors have recently bought and sold shares of the stock. Garde Capital Inc. bought a new stake in shares of C3.ai in the 1st quarter worth about $29,000. Russell Investments Group Ltd. increased its position in C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after purchasing an additional 456 shares during the period. WealthTrak Capital Management LLC purchased a new position in shares of C3.ai in the 4th quarter worth approximately $33,000. Orion Capital Management LLC purchased a new position in shares of C3.ai in the 4th quarter worth approximately $34,000. Finally, CX Institutional purchased a new stake in C3.ai during the 1st quarter worth approximately $34,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.