C3.ai (NYSE:AI) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of C3.ai (NYSE:AI) to a sell rating in a research report released on Tuesday.

Several other research analysts have also recently issued reports on AI. JMP Securities lifted their target price on C3.ai from $38.00 to $40.00 and gave the company an outperform rating in a research report on Monday, July 24th. Piper Sandler Companies lowered their price target on shares of C3.ai from $29.00 to $28.00 and set a neutral rating on the stock in a research report on Friday, September 8th. Northland Securities initiated coverage on C3.ai in a research note on Tuesday, July 25th. They set a market perform rating and a $40.00 price objective on the stock. Piper Sandler lowered their target price on shares of C3.ai from $29.00 to $28.00 and set a neutral rating on the stock in a research note on Friday, September 8th. Finally, Wedbush lowered their price target on C3.ai from $50.00 to $42.00 and set an outperform rating on the stock in a report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, C3.ai has an average rating of Hold and a consensus target price of $27.60.

C3.ai Stock Up 2.5 %

Shares of NYSE AI opened at $27.65 on Tuesday. The company has a market capitalization of $3.27 billion, a PE ratio of -11.82 and a beta of 1.54. The firm has a fifty day simple moving average of $26.51 and a 200 day simple moving average of $30.63. C3.ai has a twelve month low of $10.16 and a twelve month high of $48.87.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, September 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. C3.ai had a negative net margin of 99.42% and a negative return on equity of 27.78%. The company had revenue of $72.36 million for the quarter, compared to the consensus estimate of $71.56 million. During the same quarter in the previous year, the company earned ($0.67) EPS. C3.ai’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts expect that C3.ai will post -2.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Several institutional investors have recently bought and sold shares of the stock. Fort Pitt Capital Group LLC bought a new stake in shares of C3.ai in the 3rd quarter worth approximately $204,000. Arizona State Retirement System increased its holdings in shares of C3.ai by 4.5% during the third quarter. Arizona State Retirement System now owns 27,133 shares of the company’s stock valued at $692,000 after acquiring an additional 1,179 shares in the last quarter. LGT Group Foundation bought a new stake in C3.ai during the 3rd quarter valued at about $450,000. Victory Capital Management Inc. increased its position in shares of C3.ai by 14.2% during the third quarter. Victory Capital Management Inc. now owns 10,817 shares of the company’s stock valued at $276,000 after acquiring an additional 1,348 shares in the last quarter. Finally, Forum Financial Management LP raised its stake in shares of C3.ai by 10.4% in the third quarter. Forum Financial Management LP now owns 20,793 shares of the company’s stock worth $531,000 after purchasing an additional 1,957 shares during the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.