C3.ai (NYSE:AI) Given New $18.00 Price Target at KeyCorp

C3.ai (NYSE:AI - Get Free Report) had its price target boosted by research analysts at KeyCorp from $17.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the stock. KeyCorp's price objective would indicate a potential downside of 32.28% from the stock's previous close.

A number of other equities analysts have also weighed in on AI. Morgan Stanley reduced their price objective on C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. DA Davidson reduced their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research note on Thursday. Canaccord Genuity Group cut their price target on C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Thursday. Finally, UBS Group restated a "neutral" rating and issued a $28.00 price target (up previously from $26.00) on shares of C3.ai in a research note on Thursday. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.46.

C3.ai Stock Performance

AI stock traded down $1.22 during midday trading on Thursday, reaching $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 market cap of $3.53 billion, a PE ratio of -12.03 and a beta of 1.99. The firm has a fifty day simple moving average of $21.87 and a two-hundred day simple moving average of $28.29. C3.ai has a 52-week low of $17.03 and a 52-week high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. The business had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The company's revenue was up 25.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS. On average, sell-side analysts predict that C3.ai will post -2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thomas M. Siebel sold 13,567 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas M. Siebel sold 356,418 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $20.19, for a total value of $7,196,079.42. Following the completion of the transaction, the chief executive officer now owns 241,768 shares in the company, valued at $4,881,295.92. This represents a 59.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,529,519 shares of company stock worth $34,038,096. Corporate insiders own 33.54% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in C3.ai in the first quarter valued at approximately $177,000. Acadian Asset Management LLC purchased a new stake in C3.ai in the first quarter valued at approximately $2,983,000. Intech Investment Management LLC raised its position in C3.ai by 75.7% in the first quarter. Intech Investment Management LLC now owns 88,507 shares of the company's stock valued at $1,863,000 after purchasing an additional 38,135 shares during the period. Focus Partners Wealth raised its position in C3.ai by 2.6% in the first quarter. Focus Partners Wealth now owns 59,004 shares of the company's stock valued at $1,242,000 after purchasing an additional 1,503 shares during the period. Finally, Bayforest Capital Ltd raised its position in C3.ai by 870.9% in the first quarter. Bayforest Capital Ltd now owns 8,709 shares of the company's stock valued at $183,000 after purchasing an additional 7,812 shares during the period. 38.96% of the stock is currently 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.