JPMorgan Chase & Co. Issues Pessimistic Forecast for C3.ai (NYSE:AI) Stock Price

C3.ai (NYSE:AI - Free Report) had its target price cut by JPMorgan Chase & Co. from $27.00 to $23.00 in a report issued on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. KeyCorp restated a "mixed" rating on shares of C3.ai in a report on Thursday. Morgan Stanley reduced their price target on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Thursday. UBS Group reissued a "neutral" rating and issued a $28.00 price objective (up from $26.00) on shares of C3.ai in a research note on Thursday. Finally, DA Davidson dropped their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $29.46.

C3.ai Trading Down 4.4%

Shares of AI traded down $1.22 during mid-day trading on Thursday, reaching $26.58. 11,988,832 shares of the stock traded hands, compared to its average volume of 5,237,889. The firm has a fifty day moving average price of $21.87 and a 200 day moving average price of $28.29. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -12.03 and a beta of 1.99. C3.ai has a 1 year low of $17.03 and a 1 year high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping 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 net margin of 79.17% and a negative return on equity of 31.31%. The firm's revenue for the quarter was up 25.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) earnings per share. On average, sell-side analysts anticipate that C3.ai will post -2.44 EPS for the current year.

Insider Activity at C3.ai

In related news, CEO Thomas M. Siebel sold 216,974 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the transaction, the chief executive officer now directly owns 726,177 shares in the company, valued at $15,888,752.76. This trade represents a 23.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Merel Witteveen sold 1,133 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the sale, the vice president now owns 7,287 shares in the company, valued at $162,135.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,529,519 shares of company stock worth $34,038,096 in the last three months. Insiders own 33.54% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brown Lisle Cummings Inc. increased its stake in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd acquired a new stake in C3.ai in the 4th quarter worth approximately $29,000. Garde Capital Inc. acquired a new position in shares of C3.ai during the first quarter worth approximately $29,000. Russell Investments Group Ltd. increased its position in shares of C3.ai by 100.7% during the fourth 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. Finally, WealthTrak Capital Management LLC bought a new stake in C3.ai in the fourth quarter valued at $33,000. 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.