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

C3.ai, Inc. (NYSE:AI) has earned an average recommendation of “Reduce” from the fifteen analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $21.9167.

A number of brokerages have weighed in on AI. DA Davidson reiterated an “underperform” rating and set a $13.00 price target on shares of C3.ai in a report on Thursday, December 4th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $16.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, October 8th. Finally, UBS Group raised their price objective on shares of C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th.

C3.ai Price Performance

C3.ai stock opened at $14.01 on Friday. The stock’s 50 day moving average is $14.48 and its 200 day moving average is $18.38. C3.ai has a one year low of $12.59 and a one year high of $35.98. The firm has a market cap of $1.97 billion, a P/E ratio of -4.95 and a beta of 1.97.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.08. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The firm had revenue of $75.15 million during the quarter, compared to analyst estimates of $74.86 million. During the same quarter last year, the business earned ($0.06) EPS. The company’s revenue was down 20.3% compared to the same quarter last year. Equities analysts anticipate that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other C3.ai news, Chairman Thomas M. Siebel sold 140,768 shares of C3.ai stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $14.22, for a total value of $2,001,720.96. Following the completion of the sale, the chairman directly owned 941,845 shares of the company’s stock, valued at approximately $13,393,035.90. The trade was a 13.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Hitesh Lath sold 15,042 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $14.38, for a total value of $216,303.96. Following the completion of the sale, the chief financial officer directly owned 223,120 shares of the company’s stock, valued at $3,208,465.60. The trade was a 6.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,948,845 shares of company stock worth $30,849,644. 26.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On C3.ai

A number of large investors have recently modified their holdings of AI. Trexquant Investment LP bought a new stake in C3.ai during the 1st quarter valued at $905,000. AQR Capital Management LLC raised its holdings in shares of C3.ai by 267.9% in the 1st quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock worth $3,788,000 after acquiring an additional 132,056 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in C3.ai by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,157,303 shares of the company’s stock valued at $45,414,000 after purchasing an additional 91,923 shares during the last quarter. NewEdge Advisors LLC increased its holdings in C3.ai by 48.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares in the last quarter. Finally, Scientech Research LLC purchased a new stake in shares of C3.ai in the first quarter worth approximately $606,000. 38.96% of the stock is currently owned by institutional investors.

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.