Piper Sandler Forecasts Strong Price Appreciation for C3.ai (NYSE:AI) Stock

C3.ai (NYSE:AI) had its target price raised by analysts at Piper Sandler from $24.00 to $42.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 0.45% from the stock’s previous close.

Several other brokerages have also recently issued reports on AI. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Morgan Stanley upped their price objective on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday. Wedbush cut their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Tuesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.10.

C3.ai Price Performance

Shares of C3.ai stock opened at $41.81 on Tuesday. The stock has a market cap of $5.31 billion, a PE ratio of -18.34 and a beta of 1.99. The firm has a fifty day moving average price of $29.09 and a 200 day moving average price of $27.27. C3.ai has a 1 year low of $18.85 and a 1 year high of $42.94.

Institutional Investors Weigh In On C3.ai

Several institutional investors and hedge funds have recently added to or reduced their stakes in AI. Charles Schwab Investment Management Inc. boosted its holdings in shares of C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares during the last quarter. PDT Partners LLC purchased a new position in C3.ai during the third quarter worth approximately $1,624,000. Global Assets Advisory LLC acquired a new position in C3.ai during the third quarter worth $743,000. Janney Montgomery Scott LLC purchased a new stake in C3.ai in the 3rd quarter valued at $785,000. Finally, Intech Investment Management LLC acquired a new stake in shares of C3.ai in the 3rd quarter worth $859,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

About C3.ai

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.