C3.ai (NYSE:AI) PT Lowered to $23.00 at Canaccord Genuity Group

C3.ai (NYSE:AI) had its target price reduced by Canaccord Genuity Group from $30.00 to $23.00 in a report issued on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other equities analysts have also recently commented on AI. Northland Capmk upgraded C3.ai from a hold rating to a strong-buy rating in a report on Thursday, May 30th. Bank of America cut their price target on C3.ai from $24.00 to $20.00 and set an underperform rating for the company in a research note on Thursday. Wedbush lowered their price objective on shares of C3.ai from $40.00 to $30.00 and set an outperform rating for the company in a research report on Thursday. DA Davidson lowered their price objective on shares of C3.ai from $30.00 to $20.00 and set a neutral rating for the company in a research report on Thursday. Finally, Northland Securities upgraded shares of C3.ai from a market perform rating to an outperform rating and set a $35.00 price objective for the company in a research report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $27.70.

C3.ai Price Performance

AI opened at $21.30 on Thursday. The business’s 50-day moving average price is $26.16 and its two-hundred day moving average price is $26.64. C3.ai has a 1 year low of $18.85 and a 1 year high of $38.30. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -9.10 and a beta of 1.81.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The business had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. C3.ai’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.56) earnings per share. Sell-side analysts anticipate that C3.ai will post -2.35 earnings per share for the current fiscal year.

Insider Activity at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the sale, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.00% of the stock is currently owned by company insiders.

Institutional Trading of C3.ai

Institutional investors have recently bought and sold shares of the company. ICA Group Wealth Management LLC bought a new stake in C3.ai during the fourth quarter valued at $29,000. Toth Financial Advisory Corp boosted its position in shares of C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of C3.ai during the 2nd quarter worth about $29,000. Unique Wealth Strategies LLC bought a new position in C3.ai in the 2nd quarter valued at about $28,000. Finally, Blue Trust Inc. lifted its position in C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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.