C3.ai, Inc. (NYSE:AI) Receives $10.67 Consensus Price Target from Brokerages

Shares of C3.ai, Inc. (NYSE:AIGet Free Report) have been assigned a consensus rating of “Reduce” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.6667.

A number of brokerages have recently commented on AI. UBS Group lifted their target price on C3.ai from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Weiss Ratings lowered C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 16th. KeyCorp restated an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th. Finally, DA Davidson reissued an “underperform” rating and issued a $7.00 target price on shares of C3.ai in a research note on Thursday, June 4th.

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C3.ai Stock Up 1.1%

C3.ai stock opened at $8.91 on Wednesday. The company’s 50-day moving average price is $9.61 and its 200-day moving average price is $9.85. The company has a market cap of $1.39 billion, a PE ratio of -2.67 and a beta of 2.06. C3.ai has a twelve month low of $7.68 and a twelve month high of $26.00.

C3.ai (NYSE:AIGet Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The company had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.60 million. During the same quarter last year, the business posted ($0.16) earnings per share. The firm’s revenue was down 52.5% on a year-over-year basis. As a group, sell-side analysts expect that C3.ai will post -2.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas M. Siebel sold 472,005 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $11.11, for a total transaction of $5,243,975.55. Following the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $8,025,441.82. This represents a 39.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen Bradley Ehikian sold 50,542 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.45, for a total transaction of $477,621.90. Following the completion of the sale, the chief executive officer directly owned 651,130 shares in the company, valued at $6,153,178.50. This trade represents a 7.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 1,155,144 shares of company stock valued at $11,420,651. Company insiders own 26.50% of the company’s stock.

Institutional Investors Weigh In On C3.ai

Several hedge funds and other institutional investors have recently modified their holdings of the business. Western Wealth Management LLC purchased a new position in C3.ai during the 1st quarter valued at $26,000. Larson Financial Group LLC increased its stake in C3.ai by 683.6% in the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,292 shares during the period. Farther Finance Advisors LLC lifted its position in shares of C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after purchasing an additional 852 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares during the period. Finally, Comerica Bank boosted its stake in shares of C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after purchasing an additional 2,165 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Company Profile

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C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.

Further Reading

Analyst Recommendations for C3.ai (NYSE:AI)

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