C3.ai (NYSE:AI) Stock Price Up 5.8% – What’s Next?

C3.ai, Inc. (NYSE:AI) shares were up 5.8% on Thursday . The company traded as high as $34.69 and last traded at $34.23. Approximately 765,905 shares changed hands during trading, a decline of 86% from the average daily volume of 5,421,054 shares. The stock had previously closed at $32.36.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AI shares. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Wedbush dropped their price target on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. DA Davidson dropped their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Piper Sandler dropped their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Oppenheimer reissued an “outperform” rating and set a $40.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Three investment 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.70.

C3.ai Price Performance

The company has a fifty day moving average of $25.48 and a 200 day moving average of $26.15. The firm has a market capitalization of $4.47 billion, a P/E ratio of -15.24 and a beta of 1.80.

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

Institutional Investors Weigh In On C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of AI. ProShare Advisors LLC grew its stake in C3.ai by 8.4% in the 1st quarter. ProShare Advisors LLC now owns 16,790 shares of the company’s stock valued at $455,000 after purchasing an additional 1,300 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in C3.ai by 8.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,964 shares of the company’s stock worth $622,000 after purchasing an additional 1,820 shares during the period. Vanguard Group Inc. raised its holdings in shares of C3.ai by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after acquiring an additional 317,768 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of C3.ai by 6.2% in the 1st quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock valued at $277,000 after acquiring an additional 600 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in shares of C3.ai in the 1st quarter valued at about $83,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.