C3.ai (NYSE:AI) Given New $28.00 Price Target at Piper Sandler

C3.ai (NYSE:AI) had its price objective cut by Piper Sandler from $42.00 to $28.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also commented on AI. StockNews.com upgraded C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Northland Securities boosted their price target on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group raised their price objective on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday. Finally, DA Davidson upgraded shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.33.

C3.ai Price Performance

Shares of NYSE:AI opened at $23.80 on Thursday. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -10.77 and a beta of 1.98. The business’s 50 day moving average price is $32.65 and its 200-day moving average price is $29.55. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, sell-side analysts expect that C3.ai will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other news, Director Jim H. Snabe sold 499,700 shares of C3.ai stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $430,500. The trade was a 98.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas M. Siebel sold 409,831 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the transaction, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. The trade was a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock worth $59,736,620 in the last ninety days. 33.54% of the stock is owned by insiders.

Institutional Trading of C3.ai

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Lisle Cummings Inc. increased its position in shares of C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. R Squared Ltd acquired a new position in shares of C3.ai in the 4th quarter worth approximately $29,000. Russell Investments Group Ltd. boosted its position in shares of C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after purchasing an additional 456 shares during the period. WealthTrak Capital Management LLC acquired a new stake in C3.ai in the 4th quarter valued at approximately $33,000. Finally, CENTRAL TRUST Co purchased a new stake in C3.ai in the fourth quarter valued at approximately $34,000. 38.96% of the stock is currently 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.