C3.ai, Inc. (NYSE:AI) Given Consensus Recommendation of “Reduce” by Brokerages

C3.ai, Inc. (NYSE:AI) has been given a consensus recommendation of “Reduce” by the fifteen brokerages that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $21.9167.

Several analysts recently issued reports on AI shares. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $16.00 price objective on shares of C3.ai in a report on Thursday, December 4th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. UBS Group upped their target price on C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of C3.ai in a research note on Thursday, December 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, October 8th.

Insider Transactions at C3.ai

In other news, CEO Stephen Bradley Ehikian sold 234,918 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $13.56, for a total value of $3,185,488.08. Following the sale, the chief executive officer directly owned 924,074 shares in the company, valued at approximately $12,530,443.44. This trade represents a 20.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Thomas M. Siebel sold 554,802 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $18.82, for a total transaction of $10,441,373.64. Following the transaction, the chairman owned 1,955,300 shares of the company’s stock, valued at approximately $36,798,746. This represents a 22.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,948,845 shares of company stock valued at $30,849,644. 26.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds have recently modified their holdings of the company. Silicon Valley Capital Partners bought a new stake in C3.ai during the 2nd quarter worth $25,000. Larson Financial Group LLC boosted its stake in shares of C3.ai by 683.6% during the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,292 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after purchasing an additional 801 shares during the last quarter. Financial Consulate Inc. acquired a new position in shares of C3.ai in the third quarter valued at approximately $36,000. Finally, Clearstead Advisors LLC raised its holdings in C3.ai by 58.0% in the 3rd quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock valued at $41,000 after buying an additional 863 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Price Performance

Shares of C3.ai stock opened at $13.70 on Friday. The business has a fifty day simple moving average of $14.86 and a two-hundred day simple moving average of $18.72. C3.ai has a 1 year low of $12.59 and a 1 year high of $38.58. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -4.84 and a beta of 1.97.

C3.ai (NYSE:AI) last issued its quarterly earnings data 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. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The company had revenue of $75.15 million for the quarter, compared to analyst estimates of $74.86 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. The company’s revenue was down 20.3% on a year-over-year basis. As a group, equities analysts anticipate that C3.ai will post -2.44 earnings per share for the current fiscal year.

About C3.ai

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.