C3.ai (NYSE:AI) Sets New 52-Week Low - What's Next?

Key Points

• C3.ai (NYSE:AI) reached a new 52-week low at $14.77, down from a previous close of $22.13, amidst heavy trading volume of over 7.3 million shares.
• Analysts have set varied price targets for C3.ai: UBS lowered it to $27.00 while Westpark Capital upgraded to a target of $40.00, indicating a consensus rating of "Hold" with an average target price of $29.43.
• The company's latest earnings report showed revenue growth of 25.5% year-over-year despite a negative EBITDA, with a reported EPS of ($0.16), exceeding analyst expectations.

C3.ai, Inc. (NYSE:AI - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $14.77 and last traded at $15.16, with a volume of 7356908 shares. The stock had previously closed at $22.13.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group reduced their price target on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, June 26th. JPMorgan Chase & Co. dropped their target price on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a research report on Thursday, May 29th. Canaccord Genuity Group lowered their price objective on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Westpark Capital raised shares of C3.ai to a "strong-buy" rating and set a $40.00 target price on the stock in a research note on Wednesday, July 9th. Finally, KeyCorp reaffirmed a "mixed" rating on shares of C3.ai in a research note on Thursday, May 29th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, C3.ai presently has a consensus rating of "Hold" and an average target price of $29.43.

C3.ai Stock Down 23.4%

The stock has a market cap of $2.28 billion, a PE ratio of -7.59 and a beta of 1.98. The stock has a 50-day moving average of $25.26 and a 200 day moving average of $24.72.

C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.04. The business had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The business's quarterly revenue was up 25.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.11) EPS. Research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Transactions at C3.ai

In other C3.ai news, Director John E. Hyten sold 10,000 shares of C3.ai stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $23.75, for a total value of $237,500.00. Following the transaction, the director owned 63,942 shares in the company, valued at approximately $1,518,622.50. The trade was a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Hitesh Lath sold 17,689 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $24.96, for a total transaction of $441,517.44. Following the transaction, the chief financial officer directly owned 166,218 shares of the company's stock, valued at approximately $4,148,801.28. This represents a 9.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,298,892 shares of company stock valued at $58,428,808 over the last ninety days. Insiders own 33.54% of the company's stock.

Institutional Trading of C3.ai

A number of large investors have recently added to or reduced their stakes in AI. Two Sigma Investments LP acquired a new stake in C3.ai in the 4th quarter worth about $42,306,000. Man Group plc bought a new stake in shares of C3.ai during the 4th quarter valued at approximately $38,455,000. Two Sigma Advisers LP bought a new stake in C3.ai during the 4th quarter worth approximately $30,725,000. Renaissance Technologies LLC grew its holdings in C3.ai by 1,242.5% during the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company's stock worth $24,729,000 after acquiring an additional 664,731 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in shares of C3.ai by 3,935.9% in the 1st quarter. Vident Advisory LLC now owns 568,492 shares of the company's stock worth $11,967,000 after purchasing an additional 554,406 shares during the period. 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.

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