C3.ai (NYSE:AI) Price Target Cut to $21.00 by Analysts at KeyCorp

C3.ai (NYSE:AI) had its price objective lowered by KeyCorp from $29.00 to $21.00 in a research report report published on Thursday morning,Benzinga reports. KeyCorp currently has an underweight rating on the stock.

A number of other equities research analysts also recently commented on AI. Northland Securities lifted their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Wednesday, December 11th. DA Davidson raised C3.ai to a “hold” rating in a report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday. Finally, Morgan Stanley reduced their price target on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.33.

C3.ai Price Performance

Shares of NYSE:AI opened at $23.80 on Thursday. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08. The company has a market cap of $3.07 billion, a P/E ratio of -10.77 and a beta of 1.98. The stock’s fifty day moving average price is $32.65 and its 200-day moving average price is $29.55.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (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 company had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. On average, sell-side analysts anticipate that C3.ai will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now directly owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the transaction, the chief financial officer now owns 851 shares in the company, valued at $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock valued at $59,736,620 over the last 90 days. 33.54% of the stock is currently owned by corporate insiders.

Institutional Trading of C3.ai

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brown Lisle Cummings Inc. grew its holdings in C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. Victory Capital Management Inc. grew its stake in C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after acquiring an additional 457 shares in the last quarter. Legal & General Group Plc increased its holdings in C3.ai by 0.4% in the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock valued at $4,102,000 after acquiring an additional 517 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after purchasing an additional 555 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

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.