C3.ai (NYSE:AI) Reaches New 12-Month High – Should You Buy?

C3.ai, Inc. (NYSE:AI)’s stock price hit a new 52-week high on Monday . The company traded as high as $38.65 and last traded at $38.65, with a volume of 283112 shares. The stock had previously closed at $37.42.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley cut their target price on C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. Piper Sandler Companies reiterated a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a research report on Thursday, September 5th. DA Davidson dropped their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.70.

C3.ai Stock Down 4.0 %

The firm has a market capitalization of $4.62 billion, a PE ratio of -15.95 and a beta of 1.80. The business’s 50-day moving average price is $26.56 and its 200-day moving average price is $26.51.

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, topping analysts’ consensus estimates of ($0.13) by $0.08. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The company had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.94 million. During the same quarter in the prior year, the firm earned ($0.56) EPS. The company’s revenue was up 20.5% compared to the same quarter last year. On average, analysts anticipate that C3.ai, Inc. will post -2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Several institutional investors have recently made changes to their positions in the company. Global Assets Advisory LLC acquired a new position in C3.ai in the third quarter worth approximately $743,000. Janney Montgomery Scott LLC acquired a new position in shares of C3.ai during the 3rd quarter worth $785,000. International Assets Investment Management LLC bought a new position in shares of C3.ai during the 3rd quarter valued at $10,560,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of C3.ai in the 2nd quarter valued at $3,465,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in C3.ai by 4,860.6% in the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock worth $865,000 after purchasing an additional 31,302 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.