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

StockNews.com upgraded shares of C3.ai (NYSE:AI) to a sell rating in a report published on Tuesday morning.

Other analysts also recently issued reports about the stock. Wedbush decreased their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. Oppenheimer reiterated an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Bank of America dropped their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Finally, Piper Sandler Companies reiterated a “neutral” rating and issued a $24.00 target price on shares of C3.ai in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.70.

C3.ai Trading Down 2.5 %

NYSE:AI traded down $0.65 on Tuesday, hitting $25.73. The stock had a trading volume of 217,647 shares, compared to its average volume of 5,323,085. C3.ai has a 52-week low of $18.85 and a 52-week high of $38.30. The business’s 50-day simple moving average is $24.73 and its two-hundred day simple moving average is $25.95.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate 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 net margin of 85.47% and a negative return on equity of 31.28%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm earned ($0.56) earnings per share. Analysts expect that C3.ai will post -2.31 EPS for the current year.

Institutional Investors Weigh In On C3.ai

Several hedge funds have recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai during the 3rd quarter worth $25,000. Unique Wealth Strategies LLC purchased a new stake in C3.ai in the 2nd quarter worth $28,000. Blue Trust Inc. grew its position in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after purchasing an additional 615 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of C3.ai during the 2nd quarter worth about $29,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after buying an additional 795 shares in the last quarter. 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.