C3.ai (NYSE:AI) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of C3.ai (NYSE:AI) in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a $20.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday. Morgan Stanley dropped their price target on shares of C3.ai from $22.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 9th. UBS Group increased their price target on shares of C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, September 12th. JMP Securities lowered their price objective on C3.ai from $30.00 to $24.00 and set a “market outperform” rating on the stock in a report on Thursday, September 4th. Finally, Oppenheimer reiterated a “market perform” rating on shares of C3.ai in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $21.92.

C3.ai Stock Up 2.3%

Shares of AI stock opened at $15.35 on Thursday. The stock’s 50-day moving average price is $16.48 and its 200 day moving average price is $20.19. The stock has a market capitalization of $2.12 billion, a PE ratio of -5.42 and a beta of 1.97. C3.ai has a 52-week low of $12.59 and a 52-week high of $45.08.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.08. The company had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. C3.ai had a negative return on equity of 45.67% and a negative net margin of 108.06%.The company’s revenue was down 20.3% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. Analysts expect that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Activity at C3.ai

In related news, EVP Robert David Schilling sold 470,420 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $17.29, for a total transaction of $8,133,561.80. Following the sale, the executive vice president owned 1,011,327 shares of the company’s stock, valued at $17,485,843.83. This trade represents a 31.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Hitesh Lath sold 46,881 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $16.99, for a total transaction of $796,508.19. Following the completion of the transaction, the chief financial officer owned 209,154 shares of the company’s stock, valued at approximately $3,553,526.46. This trade represents a 18.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,318,479 shares of company stock valued at $39,632,315. 26.50% of the stock is owned by insiders.

Hedge Funds Weigh In On C3.ai

Several large investors have recently bought and sold shares of the stock. Silicon Valley Capital Partners bought a new stake in C3.ai in the 2nd quarter worth about $25,000. Larson Financial Group LLC boosted its position in C3.ai by 683.6% during the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,292 shares during the period. Parallel Advisors LLC boosted its holdings in shares of C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after acquiring an additional 801 shares during the period. Financial Consulate Inc. bought a new stake in shares of C3.ai during the third quarter valued at about $36,000. Finally, Blue Trust Inc. increased its holdings in C3.ai by 53.7% during the 2nd quarter. Blue Trust Inc. now owns 2,329 shares of the company’s stock worth $57,000 after acquiring an additional 814 shares during the period. 38.96% of the stock is currently owned by 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.