C3.ai (NYSE:AI) Given New $20.00 Price Target at Morgan Stanley

C3.ai (NYSE:AI - Get Free Report) had its price objective dropped by equities researchers at Morgan Stanley from $30.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 3.79% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Piper Sandler dropped their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. DA Davidson reduced their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. KeyCorp decreased their price objective on shares of C3.ai from $29.00 to $21.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group lowered their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $29.58.

C3.ai Price Performance

NYSE AI traded down $0.08 during mid-day trading on Wednesday, hitting $19.27. The company's stock had a trading volume of 2,849,580 shares, compared to its average volume of 5,198,547. The firm has a market capitalization of $2.56 billion, a P/E ratio of -8.72 and a beta of 2.01. C3.ai has a 52-week low of $17.03 and a 52-week high of $45.08. The stock's fifty day simple moving average is $23.20 and its two-hundred day simple moving average is $28.98.

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

Insider Transactions at C3.ai

In other news, CEO Thomas M. Siebel sold 552,422 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the transaction, the chief executive officer now directly owns 1,336,968 shares of the company's stock, valued at approximately $44,173,422.72. This trade represents a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total transaction of $25,209.25. Following the completion of the sale, the vice president now directly owns 7,287 shares of the company's stock, valued at $162,135.75. The trade was a 13.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,446,967 shares of company stock worth $37,175,326. 33.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. JBR Co Financial Management Inc acquired a new position in shares of C3.ai during the 1st quarter valued at $203,000. Kingswood Wealth Advisors LLC lifted its holdings in C3.ai by 210.9% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 57,136 shares of the company's stock valued at $1,220,000 after acquiring an additional 38,760 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of C3.ai by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,812 shares of the company's stock valued at $375,000 after purchasing an additional 1,632 shares in the last quarter. CX Institutional bought a new stake in shares of C3.ai in the 1st quarter worth approximately $34,000. Finally, Handelsbanken Fonder AB boosted its holdings in C3.ai by 43.3% during the first quarter. Handelsbanken Fonder AB now owns 38,400 shares of the company's stock worth $808,000 after buying an additional 11,600 shares in the last quarter. 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.