C3.ai, Inc. (NYSE:AI) Receives $27.70 Consensus Target Price from Brokerages

C3.ai, Inc. (NYSE:AI) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.20.

A number of research firms have commented on AI. Piper Sandler decreased their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. DA Davidson raised their price objective on C3.ai from $20.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday. JMP Securities restated a “market outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Bank of America reduced their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th.

C3.ai Stock Performance

C3.ai stock opened at $37.49 on Friday. The stock has a 50-day moving average of $28.41 and a two-hundred day moving average of $27.02. C3.ai has a one year low of $18.85 and a one year high of $39.88. The stock has a market cap of $4.76 billion, a PE ratio of -16.44 and a beta of 2.00.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. During the same period last year, the business posted ($0.56) earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts predict that C3.ai will post -2.31 EPS for the current fiscal year.

Institutional Trading of C3.ai

Institutional investors have recently bought and sold shares of the business. Hobbs Group Advisors LLC acquired a new stake in C3.ai in the second quarter valued at approximately $29,000. Unique Wealth Strategies LLC acquired a new stake in C3.ai in the second quarter valued at approximately $28,000. Blue Trust Inc. boosted its stake in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of C3.ai in the third quarter worth approximately $25,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares during the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

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.