C3.ai, Inc. (NYSE:AI) Receives $27.70 Consensus Target Price from Analysts

C3.ai, Inc. (NYSE:AI) has been given an average recommendation of “Hold” by the twelve research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $27.70.

Several analysts have issued reports on the company. DA Davidson cut their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. 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 note on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and set a $40.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Bank of America reduced their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Finally, Wedbush lowered their price target on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

C3.ai Stock Up 1.5 %

Shares of C3.ai stock opened at $36.73 on Friday. The company has a market cap of $4.67 billion, a price-to-earnings ratio of -16.11 and a beta of 2.00. The company’s 50 day moving average is $27.88 and its 200 day moving average is $26.88. C3.ai has a twelve month low of $18.85 and a twelve month high of $39.88.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. During the same period last year, the firm posted ($0.56) earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. Sell-side analysts expect that C3.ai will post -2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after buying an additional 178,870 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in C3.ai in the 2nd quarter worth $3,465,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares during the period. Hodges Capital Management Inc. acquired a new stake in C3.ai during the 3rd quarter valued at approximately $1,955,000. Finally, Hsbc Holdings PLC boosted its holdings in C3.ai by 679.8% in the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock valued at $2,500,000 after purchasing an additional 75,923 shares during the last quarter. 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.