C3.ai (NYSE:AI) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of C3.ai (NYSE:AI) in a research note issued to investors on Tuesday morning,Benzinga reports.

AI has been the subject of several other research reports. Piper Sandler cut 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 boosted their price objective on C3.ai from $20.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Oppenheimer restated an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, Bank of America dropped their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and an average target price of $34.60.

C3.ai Stock Performance

AI stock opened at $41.76 on Tuesday. C3.ai has a one year low of $18.85 and a one year high of $45.08. The firm’s fifty day moving average is $29.47 and its 200 day moving average is $27.39. The firm has a market cap of $5.30 billion, a PE ratio of -18.90 and a beta of 1.99.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in C3.ai during the third quarter worth $1,955,000. State Street Corp grew its holdings in C3.ai by 1.8% in the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after buying an additional 38,185 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of C3.ai by 21.3% in the 3rd quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock worth $1,265,000 after acquiring an additional 9,160 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of C3.ai by 98.4% during the 3rd quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock worth $1,836,000 after acquiring an additional 37,594 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.