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

C3.ai (NYSE:AI) had its price objective lowered by equities research analysts at KeyCorp from $21.00 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. KeyCorp’s price objective points to a potential downside of 12.29% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Piper Sandler decreased their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group cut their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Morgan Stanley reduced their price target on C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, DA Davidson lowered their price objective on C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $29.58.

C3.ai Trading Up 0.2 %

AI stock opened at $19.38 on Thursday. The business’s fifty day moving average price is $23.20 and its 200 day moving average price is $28.90. C3.ai has a 12-month low of $17.03 and a 12-month high of $45.08. The company has a market capitalization of $2.57 billion, a PE ratio of -8.77 and a beta of 2.01.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The business had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. Research analysts predict that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In related news, CEO Thomas M. Siebel sold 13,567 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of C3.ai stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total value of $358,080.00. Following the transaction, the director now directly owns 161,664 shares in the company, valued at approximately $4,824,053.76. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,446,967 shares of company stock worth $37,175,326 over the last three months. Insiders own 33.54% of the company’s stock.

Institutional Investors Weigh In On C3.ai

Several large investors have recently modified their holdings of the company. Brown Lisle Cummings Inc. raised its position in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. Russell Investments Group Ltd. increased its stake in C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares during the period. Legal & General Group Plc raised its holdings in shares of C3.ai by 0.4% in the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock valued at $4,102,000 after buying an additional 517 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after buying an additional 555 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in shares of C3.ai by 2.4% during the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock worth $805,000 after buying an additional 555 shares during the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

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.