DA Davidson Lowers C3.ai (NYSE:AI) Price Target to $25.00

C3.ai (NYSE:AI) had its price target cut by analysts at DA Davidson from $40.00 to $25.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price target suggests a potential upside of 1.52% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Northland Securities raised their target price on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group increased their target price on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. KeyCorp cut their price target on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday. Finally, StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.17.

C3.ai Stock Performance

NYSE AI traded down $1.82 during trading on Thursday, hitting $24.63. The stock had a trading volume of 10,455,553 shares, compared to its average volume of 5,029,941. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -11.16 and a beta of 1.98. The stock has a 50 day simple moving average of $32.88 and a 200 day simple moving average of $29.59. C3.ai has a one year low of $18.85 and a one year high of $45.08.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. On average, sell-side analysts predict that C3.ai will post -2.44 EPS for the current year.

Insider Buying and Selling

In other news, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the sale, the chief executive officer now owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the transaction, the director now directly owns 546,495 shares in the company, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,643,311 shares of company stock worth $59,736,620. 33.54% of the stock is owned by insiders.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently made changes to their positions in AI. Creative Planning increased its holdings in C3.ai by 7.0% in the 3rd quarter. Creative Planning now owns 56,573 shares of the company’s stock valued at $1,371,000 after purchasing an additional 3,712 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of C3.ai by 21.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,745 shares of the company’s stock worth $115,000 after buying an additional 839 shares during the last quarter. International Assets Investment Management LLC acquired a new position in C3.ai during the 3rd quarter valued at approximately $10,560,000. Pathway Financial Advisers LLC raised its stake in C3.ai by 2,501.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 8,844 shares of the company’s stock valued at $214,000 after acquiring an additional 8,504 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its stake in shares of C3.ai by 34.5% in the 3rd quarter. Focus Financial Network Inc. now owns 45,293 shares of the company’s stock worth $1,097,000 after acquiring an additional 11,617 shares during the period. Hedge funds and other 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.