C3.ai (NYSE:AI) Upgraded to “Sell” at StockNews.com

C3.ai (NYSE:AI) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a report released on Tuesday.

A number of other analysts have also weighed in on AI. Bank of America dropped their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. 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. Finally, 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. Three research 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. According to MarketBeat, C3.ai presently has an average rating of “Hold” and an average target price of $27.70.

C3.ai Stock Down 4.0 %

Shares of AI stock traded down $1.50 during trading on Tuesday, hitting $36.36. The company had a trading volume of 5,939,398 shares, compared to its average volume of 5,514,704. The stock’s 50-day moving average is $26.56 and its two-hundred day moving average is $26.51. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -15.95 and a beta of 1.80. C3.ai has a 52 week low of $18.85 and a 52 week high of $39.88.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating 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 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 business earned ($0.56) earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis. On average, research analysts predict that C3.ai will post -2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of C3.ai by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after buying an additional 317,768 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of C3.ai by 8.8% during 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 shares of C3.ai during the 2nd quarter valued at about $3,465,000. Charles Schwab Investment Management Inc. lifted its position in shares of C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in shares of C3.ai by 541.6% during the 1st quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock valued at $2,943,000 after buying an additional 91,774 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.