Northland Securities Boosts C3.ai (NYSE:AI) Price Target to $45.00

C3.ai (NYSE:AI) had its price target hoisted by stock analysts at Northland Securities from $35.00 to $45.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price target suggests a potential upside of 17.92% from the company’s previous close.

AI has been the subject of several other reports. Piper Sandler lowered their price target on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Wedbush cut their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Morgan Stanley reduced their price objective on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Finally, DA Davidson boosted their price target on shares of C3.ai from $20.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.55.

C3.ai Price Performance

Shares of AI stock opened at $38.16 on Tuesday. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08. The company’s fifty day simple moving average is $29.78 and its two-hundred day simple moving average is $27.47. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of -17.27 and a beta of 1.99.

Insider Transactions at C3.ai

In other news, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the sale, the chief financial officer now directly owns 851 shares in the company, valued at approximately $35,742. This represents a 93.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $5,250,000.00. Following the sale, the director now owns 546,495 shares of the company’s stock, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 33.54% of the company’s stock.

Hedge Funds Weigh In On C3.ai

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after buying an additional 178,870 shares during the last quarter. State Street Corp increased its position in shares of C3.ai by 1.8% during the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after purchasing an additional 38,185 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after purchasing an additional 92,280 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of C3.ai by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after purchasing an additional 1,929 shares in the last quarter. Finally, Raymond James & Associates grew its stake in C3.ai by 11.5% during the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock worth $5,829,000 after buying an additional 20,753 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.