KeyCorp Cuts C3.ai (NYSE:AI) Price Target to $17.00

C3.ai (NYSE:AI - Get Free Report) had its price objective cut by investment analysts at KeyCorp from $21.00 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the stock. KeyCorp's price target would suggest a potential downside of 10.85% from the stock's previous close.

A number of other equities research analysts also recently issued reports on AI. DA Davidson cut their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Canaccord Genuity Group lowered their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Piper Sandler cut their price target on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley lowered their price target 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. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, C3.ai has an average rating of "Hold" and a consensus price target of $29.58.

C3.ai Trading Down 1.4 %

Shares of AI traded down $0.28 during midday trading on Thursday, hitting $19.07. The stock had a trading volume of 946,824 shares, compared to its average volume of 4,559,260. The business has a 50-day simple moving average of $23.20 and a two-hundred day simple moving average of $28.98. The firm has a market cap of $2.53 billion, a P/E ratio of -8.63 and a beta of 2.01. C3.ai has a fifty-two week low of $17.03 and a fifty-two week high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million for the quarter, compared to analysts' expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, analysts expect that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the sale, the director now owns 161,664 shares in the company, valued at approximately $4,824,053.76. This trade represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Merel Witteveen sold 1,133 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total value of $25,209.25. Following the transaction, the vice president now owns 7,287 shares in the company, valued at $162,135.75. This represents a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,446,967 shares of company stock valued at $37,175,326. Insiders own 33.54% of the company's stock.

Institutional Trading of C3.ai

Several institutional investors have recently modified their holdings of the company. Brown Lisle Cummings Inc. grew its stake in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after buying an additional 400 shares during the last quarter. R Squared Ltd bought a new position in shares of C3.ai during the fourth quarter worth $29,000. Russell Investments Group Ltd. raised its holdings in C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after buying an additional 456 shares during the period. WealthTrak Capital Management LLC bought a new stake in shares of C3.ai in the fourth quarter valued at about $33,000. Finally, CENTRAL TRUST Co bought a new position in C3.ai in the fourth quarter valued at $34,000. 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.