C3.ai, Inc. (NYSE:AI) Stock Has Consensus Target Price of $9.62 According to Analysts

Shares of C3.ai, Inc. (NYSE:AI) have been assigned a consensus recommendation of “Reduce” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.62.

A number of equities analysts have issued reports on AI shares. Citizens Jmp restated a “market perform” rating on shares of C3.ai in a report on Tuesday, September 29th. Wall Street Zen raised shares of C3.ai from a “sell” rating to a “hold” rating in a research report on Sunday, October 11th. DA Davidson reissued an “underperform” rating and set a $7.00 price objective on shares of C3.ai in a report on Tuesday, September 1st. Weiss Ratings raised shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Finally, Northland Securities upgraded shares of C3.ai from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $10.00 to $16.00 in a research note on Monday, October 12th.

C3.ai Trading Down 0.1%

AI opened at $11.84 on Friday. C3.ai has a twelve month low of $7.68 and a twelve month high of $17.59. The firm has a market capitalization of $1.90 billion, a PE ratio of -3.84 and a beta of 2.16. The firm’s 50-day moving average price is $11.06 and its 200 day moving average price is $10.08.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.06. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The company had revenue of $52.38 million during the quarter, compared to analysts’ expectations of $52.06 million. During the same quarter last year, the business earned ($0.37) EPS. The business’s revenue was down 25.4% on a year-over-year basis. As a group, analysts predict that C3.ai will post -2.20 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas Siebel sold 435,363 shares of the business’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $11.82, for a total transaction of $5,145,990.66. Following the completion of the sale, the chief executive officer owned 722,362 shares of the company’s stock, valued at $8,538,318.84. The trade was a 37.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 20,000 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $12.37, for a total transaction of $247,400.00. Following the sale, the chief financial officer owned 305,250 shares in the company, valued at approximately $3,775,942.50. This trade represents a 6.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,433,672 shares of company stock worth $15,777,026 in the last quarter. Company insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC bought a new position in shares of C3.ai during the 1st quarter valued at about $26,000. CoreCap Advisors LLC raised its holdings in shares of C3.ai by 34.0% during the 2nd quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock worth $56,000 after buying an additional 1,560 shares in the last quarter. Versant Capital Management Inc raised its position in C3.ai by 1,510.1% in the second quarter. Versant Capital Management Inc now owns 6,859 shares of the company’s stock valued at $62,000 after purchasing an additional 6,433 shares during the last quarter. Nykredit A S bought a new position in C3.ai during the 2nd quarter worth approximately $84,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of C3.ai during the 3rd quarter worth approximately $85,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc (NYSE:AI) is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations deploy AI at scale. Its products support the development, integration and operation of AI applications using data from multiple business systems and sources.

The company’s offerings include the C3 AI Platform, which provides capabilities for data management, machine learning, application development and model operations, as well as prebuilt applications for areas such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement and energy management.