C3.ai, Inc. (NYSE:AI) Receives Consensus Rating of “Reduce” from Brokerages

Shares of C3.ai, Inc. (NYSE:AI) have been assigned an average recommendation of “Reduce” from the fourteen analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.9167.

AI has been the subject of a number of research reports. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $16.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. DA Davidson reissued an “underperform” rating and set a $13.00 price objective on shares of C3.ai in a report on Thursday, December 4th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st.

Insider Activity

In other news, Chairman Thomas M. Siebel sold 309,589 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $13.52, for a total value of $4,185,643.28. Following the completion of the sale, the chairman owned 632,256 shares of the company’s stock, valued at $8,548,101.12. This trade represents a 32.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Hitesh Lath sold 15,042 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $14.38, for a total value of $216,303.96. Following the transaction, the chief financial officer directly owned 223,120 shares in the company, valued at $3,208,465.60. This represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,916,218 shares of company stock worth $27,468,077. Insiders own 26.50% of the company’s stock.

Institutional Trading of C3.ai

Several large investors have recently bought and sold shares of AI. Silicon Valley Capital Partners purchased a new position in C3.ai in the 2nd quarter worth $25,000. Larson Financial Group LLC grew its stake in C3.ai by 683.6% during the 3rd 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 during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. Parallel Advisors LLC raised its stake 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 purchasing an additional 801 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new stake in shares of C3.ai during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Price Performance

Shares of AI opened at $12.62 on Wednesday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -4.46 and a beta of 1.97. C3.ai has a 1-year low of $12.27 and a 1-year high of $35.98. The company has a 50-day moving average of $14.01 and a 200 day moving average of $17.24.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate 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 46.51% and a negative net margin of 108.06%.C3.ai’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. On average, 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.