C3.ai (NYSE:AI) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of C3.ai (NYSE:AI) to a sell rating in a research note released on Tuesday.

AI has been the subject of a number of other reports. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Piper Sandler dropped their price objective on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Morgan Stanley reduced their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. Wedbush dropped their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, Canaccord Genuity Group reduced their price objective on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.70.

C3.ai Trading Down 1.4 %

Shares of AI opened at $27.79 on Tuesday. The stock has a 50 day moving average of $24.56 and a 200 day moving average of $25.91. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -12.19 and a beta of 1.80. C3.ai has a 12 month low of $18.85 and a 12 month high of $38.30.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.56) EPS. As a group, equities research analysts predict that C3.ai will post -2.31 earnings per share for the current year.

Institutional Trading of C3.ai

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of C3.ai by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after buying an additional 317,768 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after acquiring an additional 92,280 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of C3.ai by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after purchasing an additional 1,929 shares in the last quarter. Raymond James & Associates raised its position in C3.ai by 11.5% in the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock worth $5,829,000 after purchasing an additional 20,753 shares during the period. Finally, Swiss National Bank boosted its position in C3.ai by 1.6% during the first quarter. Swiss National Bank now owns 195,200 shares of the company’s stock valued at $5,284,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors 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.