C3.ai’s (AI) Hold Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of C3.ai (NYSE:AI) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $16.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday. DA Davidson restated an “underperform” rating and set a $13.00 price target on shares of C3.ai in a research report on Thursday. Northland Securities lowered C3.ai from an “outperform” rating to a “market perform” rating and set a $17.00 target price for the company. in a research note on Tuesday, August 12th. Finally, UBS Group raised their price target on C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $21.92.

C3.ai Trading Up 2.3%

AI opened at $15.35 on Thursday. The stock has a 50-day moving average price of $16.48 and a 200-day moving average price of $20.19. C3.ai has a 12-month low of $12.59 and a 12-month high of $45.08. The stock has a market capitalization of $2.12 billion, a P/E ratio of -5.42 and a beta of 1.97.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.08. The company had revenue of $75.15 million for the quarter, compared to analysts’ expectations of $74.86 million. C3.ai had a negative return on equity of 45.67% and a negative net margin of 108.06%.C3.ai’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) EPS. On average, equities research analysts predict that C3.ai will post -2.44 EPS for the current year.

Insider Transactions at C3.ai

In other C3.ai news, Chairman Thomas M. Siebel sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $14.21, for a total value of $241,570.00. Following the completion of the sale, the chairman directly owned 15,736 shares in the company, valued at $223,608.56. This trade represents a 51.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Hitesh Lath sold 46,881 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $16.99, for a total value of $796,508.19. Following the transaction, the chief financial officer owned 209,154 shares in the company, valued at $3,553,526.46. This trade represents a 18.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,318,479 shares of company stock valued at $39,632,315. Company insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its position in shares of C3.ai by 22.1% during the third quarter. CIBC Private Wealth Group LLC now owns 24,607 shares of the company’s stock valued at $427,000 after purchasing an additional 4,446 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in C3.ai during the third quarter valued at $227,000. Mayport LLC bought a new stake in shares of C3.ai during the 3rd quarter valued at $191,000. XTX Topco Ltd purchased a new stake in shares of C3.ai in the 3rd quarter worth about $1,702,000. Finally, Nomura Holdings Inc. increased its stake in shares of C3.ai by 36.1% in the 3rd quarter. Nomura Holdings Inc. now owns 32,943 shares of the company’s stock worth $571,000 after acquiring an additional 8,733 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.