UBS Group Issues Pessimistic Forecast for C3.ai (NYSE:AI) Stock Price

C3.ai (NYSE:AI - Get Free Report) had its price objective dropped by analysts at UBS Group from $28.00 to $27.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 9.06% from the stock's current price.

Several other analysts have also issued reports on the stock. 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. JPMorgan Chase & Co. cut their price objective on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a research report on Thursday, May 29th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research note on Thursday, May 29th. Wall Street Zen downgraded C3.ai from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Finally, Oppenheimer reduced their price target on C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $29.38.

C3.ai Trading Up 4.7%

AI stock traded up $1.12 on Thursday, hitting $24.76. The company had a trading volume of 6,673,202 shares, compared to its average volume of 5,222,511. C3.ai has a 12-month low of $17.03 and a 12-month high of $45.08. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -11.05 and a beta of 2.04. The stock's 50-day simple moving average is $23.37 and its 200 day simple moving average is $27.10.

C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.04. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The firm had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. During the same period last year, the business posted ($0.11) EPS. The company's revenue for the quarter was up 25.5% on a year-over-year basis. Research analysts forecast that C3.ai will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other news, VP Merel Witteveen sold 5,485 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $23.95, for a total transaction of $131,365.75. Following the completion of the sale, the vice president now directly owns 13,740 shares of the company's stock, valued at approximately $329,073. The trade was a 28.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Hitesh Lath sold 4,368 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.45, for a total transaction of $128,637.60. Following the completion of the sale, the chief financial officer now directly owns 250 shares of the company's stock, valued at approximately $7,362.50. This trade represents a 94.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,752,730 shares of company stock worth $41,551,316. Insiders own 33.54% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Garde Capital Inc. purchased a new position in shares of C3.ai during the 1st quarter valued at approximately $29,000. Russell Investments Group Ltd. grew its holdings 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 worth $31,000 after buying an additional 456 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of C3.ai in the fourth quarter worth about $33,000. Orion Capital Management LLC purchased a new position in shares of C3.ai in the fourth quarter worth about $34,000. Finally, CX Institutional acquired a new position in shares of C3.ai during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 38.96% of the company's stock.

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.