C3.ai (NYSE:AI) Shares Down 3.1%

C3.ai, Inc. (NYSE:AI - Get Free Report)'s share price traded down 3.1% during trading on Monday . The company traded as low as $21.70 and last traded at $21.74. 979,536 shares changed hands during trading, a decline of 87% from the average session volume of 7,405,517 shares. The stock had previously closed at $22.43.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America lifted their price objective on C3.ai from $18.00 to $20.00 and gave the stock an "underperform" rating in a research report on Thursday, February 29th. Piper Sandler lifted their price objective on C3.ai from $27.00 to $33.00 and gave the stock a "neutral" rating in a research report on Monday, March 4th. Wedbush dropped their price objective on C3.ai from $42.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group lifted their price objective on C3.ai from $27.00 to $31.00 and gave the stock a "hold" rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $29.91.

C3.ai Trading Down 7.1 %

The business has a 50 day simple moving average of $28.18 and a 200-day simple moving average of $27.52. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -8.94 and a beta of 1.71.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.73) by $0.13. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. The firm had revenue of $78.40 million for the quarter, compared to analyst estimates of $75.92 million. Research analysts predict that C3.ai, Inc. will post -2.48 EPS for the current year.

Hedge Funds Weigh In On C3.ai

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of C3.ai by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company's stock valued at $267,383,000 after purchasing an additional 659,986 shares in the last quarter. Voya Investment Management LLC lifted its position in C3.ai by 23,985.8% during the 4th quarter. Voya Investment Management LLC now owns 5,785,164 shares of the company's stock worth $166,092,000 after acquiring an additional 5,761,145 shares in the last quarter. BlackRock Inc. lifted its position in C3.ai by 3.8% during the 3rd quarter. BlackRock Inc. now owns 5,717,608 shares of the company's stock worth $71,470,000 after acquiring an additional 208,386 shares in the last quarter. Morgan Stanley lifted its position in C3.ai by 213.5% during the 3rd quarter. Morgan Stanley now owns 4,112,560 shares of the company's stock worth $104,953,000 after acquiring an additional 2,800,813 shares in the last quarter. Finally, Coatue Management LLC lifted its position in C3.ai by 25.1% during the 4th quarter. Coatue Management LLC now owns 2,832,229 shares of the company's stock worth $81,313,000 after acquiring an additional 568,369 shares in the last quarter. 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.