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

C3.ai, Inc. (NYSE:AI) has been assigned a consensus rating of “Reduce” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.8667.

Several brokerages have recently commented on AI. Wolfe Research restated an “underperform” rating and issued a $6.00 price objective on shares of C3.ai in a report on Thursday, February 26th. DA Davidson decreased their price objective on C3.ai from $13.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, February 26th. Citizens Jmp cut shares of C3.ai from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 26th. Canaccord Genuity Group lowered their price target on C3.ai from $16.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Finally, BMO Capital Markets set a $7.00 price objective on shares of C3.ai in a research note on Thursday, February 26th.

Insider Buying and Selling at C3.ai

In other C3.ai news, Director Jim H. Snabe acquired 25,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were bought at an average cost of $9.00 per share, for a total transaction of $225,000.00. Following the completion of the purchase, the director owned 395,000 shares in the company, valued at $3,555,000. This trade represents a 6.76% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Thomas M. Siebel sold 23,435 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $9.11, for a total value of $213,492.85. Following the transaction, the chairman directly owned 743,693 shares in the company, valued at approximately $6,775,043.23. This represents a 3.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,335,113 shares of company stock worth $16,860,919 in the last quarter. 26.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of C3.ai by 5.9% in the second quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company’s stock valued at $69,129,000 after buying an additional 156,925 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of C3.ai by 2,831.4% in the 3rd quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock worth $9,615,000 after buying an additional 535,557 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of C3.ai in the second quarter valued at approximately $556,000. Dynamic Technology Lab Private Ltd acquired a new stake in C3.ai during the 2nd quarter valued at $1,063,000. Finally, SG Americas Securities LLC boosted its stake in shares of C3.ai by 1,149.9% during the third quarter. SG Americas Securities LLC now owns 178,846 shares of the company’s stock valued at $3,101,000 after acquiring an additional 164,537 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Price Performance

NYSE:AI opened at $8.60 on Thursday. C3.ai has a 1-year low of $7.72 and a 1-year high of $30.24. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -2.73 and a beta of 2.05. The company’s 50-day moving average is $10.96 and its two-hundred day moving average is $14.26.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The business had revenue of $53.26 million during the quarter, compared to analysts’ expectations of $75.91 million. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The company’s revenue was down 46.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) earnings per share. As a group, equities analysts anticipate that C3.ai will post -2.44 earnings per share for the current fiscal year.

C3.ai Company Profile

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.