C3.ai (NYSE:AI) Price Target Cut to $27.00 by Analysts at UBS Group

C3.ai (NYSE:AI) had its price target lowered by UBS Group from $28.00 to $27.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also commented on AI. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, May 29th. JPMorgan Chase & Co. reduced their price objective on C3.ai from $27.00 to $23.00 and set an “underweight” rating for the company in a research note on Thursday, May 29th. Oppenheimer decreased their price objective on C3.ai from $56.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, May 29th. KeyCorp reaffirmed a “mixed” rating on shares of C3.ai in a research report on Thursday, May 29th. Finally, Morgan Stanley lifted their price target on shares of C3.ai from $20.00 to $22.00 and gave the company an “underweight” rating in a research report on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, C3.ai has a consensus rating of “Hold” and an average target price of $29.38.

C3.ai Stock Up 4.7%

AI stock opened at $24.76 on Thursday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -11.05 and a beta of 2.04. The company’s fifty day simple moving average is $23.47 and its 200 day simple moving average is $26.98. C3.ai has a 12-month low of $17.03 and a 12-month high of $45.08.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The company had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. During the same period in the previous year, the business earned ($0.11) EPS. The firm’s revenue was up 25.5% compared to the same quarter last year. Research analysts expect that C3.ai will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other news, CEO Thomas M. Siebel sold 27,010 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $22.27, for a total value of $601,512.70. Following the completion of the transaction, the chief executive officer now directly owns 26,115 shares of the company’s stock, valued at $581,581.05. This represents a 50.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total value of $264,149.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,752,730 shares of company stock worth $41,551,316. Corporate insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of C3.ai by 242.6% during the 4th quarter. Blue Trust Inc. now owns 1,367 shares of the company’s stock worth $47,000 after purchasing an additional 968 shares during the period. Rhumbline Advisers increased its holdings in C3.ai by 39.4% during the fourth quarter. Rhumbline Advisers now owns 166,378 shares of the company’s stock worth $5,728,000 after buying an additional 47,028 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in C3.ai during the fourth quarter worth about $324,000. New York State Common Retirement Fund raised its position in C3.ai by 9.2% in the fourth quarter. New York State Common Retirement Fund now owns 30,896 shares of the company’s stock worth $1,064,000 after acquiring an additional 2,600 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in C3.ai by 1,004.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.