Oppenheimer Lowers C3.ai (NYSE:AI) Price Target to $45.00

C3.ai (NYSE:AI - Get Free Report) had its price target lowered by stock analysts at Oppenheimer from $56.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective indicates a potential upside of 69.30% from the company's previous close.

Other research analysts have also issued research reports about the company. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a report on Thursday. Piper Sandler decreased their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. KeyCorp reiterated a "mixed" rating on shares of C3.ai in a research report on Thursday. DA Davidson dropped their target price on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, UBS Group restated a "neutral" rating and set a $28.00 price objective (up previously from $26.00) on shares of C3.ai in a research note on Thursday. Five analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $29.46.

C3.ai Stock Performance

AI traded down $1.22 during trading on Thursday, hitting $26.58. The stock had a trading volume of 11,988,832 shares, compared to its average volume of 5,237,889. The stock has a 50 day simple moving average of $21.87 and a two-hundred day simple moving average of $28.29. The company has a market capitalization of $3.53 billion, a PE ratio of -12.03 and a beta of 1.99. C3.ai has a twelve month low of $17.03 and a twelve 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) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.04. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The company had revenue of $108.72 million for the quarter, compared to analyst estimates of $107.85 million. During the same quarter last year, the business earned ($0.11) earnings per share. The firm's revenue was up 25.5% on a year-over-year basis. On average, equities research analysts anticipate that C3.ai will post -2.44 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Thomas M. Siebel sold 356,418 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $20.19, for a total transaction of $7,196,079.42. Following the completion of the transaction, the chief executive officer now directly owns 241,768 shares of the company's stock, valued at $4,881,295.92. This represents a 59.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Merel Witteveen sold 5,719 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $23.32, for a total transaction of $133,367.08. Following the sale, the vice president now owns 12,066 shares in the company, valued at approximately $281,379.12. This trade represents a 32.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,529,519 shares of company stock valued at $34,038,096. 33.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AI. Charles Schwab Investment Management Inc. raised its stake in shares of C3.ai by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock valued at $32,128,000 after acquiring an additional 88,750 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of C3.ai in the 4th quarter valued at $3,996,000. Susquehanna Fundamental Investments LLC purchased a new stake in C3.ai in the 4th quarter worth $3,159,000. Vanguard Group Inc. grew its holdings in shares of C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after buying an additional 446,529 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of C3.ai by 70.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock valued at $1,905,000 after purchasing an additional 22,949 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.