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

Shares of C3.ai, Inc. (NYSE:AI) have earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $27.70.

A number of equities research analysts have recently commented on AI shares. Wedbush reduced their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Morgan Stanley reduced their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. Piper Sandler reduced their target price on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, DA Davidson cut their price objective on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of C3.ai by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after purchasing an additional 317,768 shares during the period. Coatue Management LLC boosted its stake in shares of C3.ai by 25.1% in the fourth quarter. Coatue Management LLC now owns 2,832,229 shares of the company’s stock valued at $81,313,000 after purchasing an additional 568,369 shares during the period. Global Assets Advisory LLC boosted its stake in shares of C3.ai by 2,547.8% in the first quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock valued at $24,273,000 after purchasing an additional 862,811 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of C3.ai by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after purchasing an additional 1,929 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of C3.ai by 11.5% in the second quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock valued at $5,829,000 after purchasing an additional 20,753 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Stock Up 1.2 %

AI opened at $27.58 on Thursday. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -11.79 and a beta of 1.81. C3.ai has a 52-week low of $18.85 and a 52-week high of $38.30. The firm’s fifty day simple moving average is $23.90 and its two-hundred day simple moving average is $25.53.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.08. The business had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.56) earnings per share. On average, research analysts forecast that C3.ai will post -2.32 EPS for the current year.

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.