C3.ai, Inc. (NYSE:AI) Given Average Recommendation of “Hold” by Analysts

Shares of C3.ai, Inc. (NYSE:AI) have been given an average recommendation of “Hold” by the ten brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $29.91.

AI has been the subject of several research analyst reports. Wedbush decreased their price objective on shares of C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Canaccord Genuity Group raised their price target on shares of C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Bank of America boosted their price objective on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Finally, Piper Sandler raised their target price on C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th.

C3.ai Stock Up 0.5 %

Shares of NYSE:AI opened at $20.60 on Thursday. The firm’s 50 day moving average price is $27.97 and its 200-day moving average price is $27.44. The stock has a market capitalization of $2.51 billion, a PE ratio of -8.84 and a beta of 1.70. C3.ai has a twelve month low of $16.79 and a twelve month high of $48.87.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.13. The firm had revenue of $78.40 million for the quarter, compared to the consensus estimate of $75.92 million. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. Analysts expect that C3.ai will post -2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C3.ai

Institutional investors have recently made changes to their positions in the company. Toth Financial Advisory Corp increased its holdings in C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 900 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in C3.ai in the 1st quarter valued at $275,000. Strategic Planning Group LLC lifted its holdings in C3.ai by 31.4% in the 1st quarter. Strategic Planning Group LLC now owns 43,001 shares of the company’s stock valued at $1,164,000 after purchasing an additional 10,264 shares in the last quarter. Global Assets Advisory LLC boosted its stake in C3.ai by 2,547.8% during the 1st quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock worth $24,273,000 after purchasing an additional 862,811 shares during the last quarter. Finally, Optimum Investment Advisors raised its position in shares of C3.ai by 188.7% in the first quarter. Optimum Investment Advisors now owns 8,568 shares of the company’s stock valued at $232,000 after buying an additional 5,600 shares during the last quarter. 38.96% of the stock is 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.