C3.ai (NYSE:AI) Upgraded by Wall Street Zen to "Hold" Rating

Wall Street Zen upgraded shares of C3.ai (NYSE:AI - Free Report) from a sell rating to a hold rating in a research report report published on Saturday morning.

Several other analysts also recently commented on AI. JPMorgan Chase & Co. reduced their price target 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. Piper Sandler cut their price objective on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. KeyCorp restated a "mixed" rating on shares of C3.ai in a research report on Thursday, May 29th. Oppenheimer cut their price objective on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Finally, Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $30.14.

C3.ai Trading Down 1.9%

AI stock traded down $0.52 on Friday, hitting $26.29. The company's stock had a trading volume of 4,210,758 shares, compared to its average volume of 5,313,673. The firm has a 50 day moving average of $24.44 and a two-hundred day moving average of $26.00. C3.ai has a 1 year low of $17.03 and a 1 year high of $45.08. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -11.74 and a beta of 1.99.

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 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 quarter in the prior year, the firm earned ($0.11) EPS. C3.ai's revenue for the quarter was up 25.5% on a year-over-year basis. As a group, equities analysts forecast that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In related news, CFO Hitesh Lath sold 17,689 shares of the stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen M. Ward, Jr. sold 42,382 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $26.32, for a total transaction of $1,115,494.24. Following the completion of the sale, the director directly owned 546,495 shares in the company, valued at approximately $14,383,748.40. The trade was a 7.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,770,419 shares of company stock worth $41,992,834. Company insiders own 33.54% of the company's stock.

Institutional Investors Weigh In On C3.ai

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in C3.ai in the 4th quarter valued at about $33,000. Orion Capital Management LLC purchased a new position in C3.ai in the 4th quarter valued at about $34,000. Raiffeisen Bank International AG purchased a new position in C3.ai in the 4th quarter valued at about $36,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in C3.ai in the 4th quarter valued at about $36,000. 38.96% of the stock is owned by institutional investors and hedge funds.

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.