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C3.ai (NYSE:AI) Price Target Raised to $12.00 at UBS Group

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Key Points

  • UBS Group raised its price target on C3.ai from $9 to $12 while keeping a neutral rating, implying about 13.65% upside from the prior close.
  • C3.ai’s latest earnings beat expectations, posting a smaller-than-expected loss of $0.33 per share versus the $0.38 loss analysts projected, with revenue of $51.6 million matching estimates.
  • Despite the earnings beat, growth remains weak: quarterly revenue fell 52.5% year over year, and the stock has seen mixed analyst sentiment with a consensus rating of “Reduce.”
  • Interested in C3.ai? Here are five stocks we like better.

C3.ai (NYSE:AI - Get Free Report) had its price target boosted by analysts at UBS Group from $9.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's target price points to a potential upside of 13.65% from the stock's previous close.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings upgraded shares of C3.ai from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday. Morgan Stanley reiterated an "underweight" rating on shares of C3.ai in a research report on Thursday. DA Davidson restated an "underperform" rating and issued a $7.00 price objective on shares of C3.ai in a report on Wednesday, May 13th. BMO Capital Markets set a $7.00 target price on shares of C3.ai in a report on Thursday, February 26th. Finally, Wedbush reaffirmed an "outperform" rating and set a $15.00 target price on shares of C3.ai in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, C3.ai presently has a consensus rating of "Reduce" and an average price target of $13.23.

View Our Latest Research Report on AI

C3.ai Stock Down 1.4%

Shares of NYSE AI opened at $10.56 on Thursday. C3.ai has a fifty-two week low of $7.68 and a fifty-two week high of $30.11. The business has a 50 day moving average price of $9.10 and a two-hundred day moving average price of $11.16. The firm has a market cap of $1.53 billion, a PE ratio of -3.34 and a beta of 2.04.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.38) by $0.05. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The company had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. During the same period in the prior year, the company posted ($0.16) EPS. C3.ai's quarterly revenue was down 52.5% on a year-over-year basis. On average, analysts anticipate that C3.ai will post -3.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Stephen Bradley Ehikian sold 52,194 shares of the company's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $8.22, for a total transaction of $429,034.68. Following the completion of the transaction, the chief executive officer directly owned 721,485 shares in the company, valued at $5,930,606.70. This represents a 6.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jim H. Snabe purchased 25,000 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average cost of $9.00 per share, with a total value of $225,000.00. Following the completion of the acquisition, the director directly owned 395,000 shares of the company's stock, valued at $3,555,000. The trade was a 6.76% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 1,610,039 shares of company stock valued at $13,935,574 in the last three months. Company insiders own 26.50% of the company's stock.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its stake in C3.ai by 683.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company's stock valued at $26,000 after buying an additional 1,292 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company's stock valued at $32,000 after acquiring an additional 801 shares during the period. Farther Finance Advisors LLC boosted its position in C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company's stock valued at $29,000 after buying an additional 852 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of C3.ai by 58.0% during the third quarter. Clearstead Advisors LLC now owns 2,350 shares of the company's stock worth $41,000 after buying an additional 863 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company's stock worth $33,000 after buying an additional 2,165 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai News Summary

Here are the key news stories impacting C3.ai this week:

About C3.ai

(Get Free Report)

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company's core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.

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Analyst Recommendations for C3.ai (NYSE:AI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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