Analysts Set C3.ai, Inc. (NYSE:AI) Target Price at $15.87
by Amy Steele · The Cerbat GemC3.ai, Inc. (NYSE:AI – Get Free Report) has received a consensus rating of “Reduce” from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $15.8667.
Several analysts recently issued reports on the company. Bank of America set a $10.00 target price on C3.ai in a research note on Friday, January 30th. Canaccord Genuity Group cut their target price on C3.ai from $16.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Wolfe Research reissued an “underperform” rating and issued a $6.00 target price on shares of C3.ai in a research note on Thursday, February 26th. Citizens Jmp cut C3.ai from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. cut their target price on C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th.
Read Our Latest Analysis on AI
C3.ai Trading Up 13.5%
Shares of NYSE:AI opened at $9.54 on Monday. The stock’s 50-day moving average price is $9.27 and its 200-day moving average price is $13.08. C3.ai has a 12-month low of $7.68 and a 12-month high of $30.24. The stock has a market capitalization of $1.39 billion, a P/E ratio of -3.03 and a beta of 2.08.
C3.ai (NYSE:AI – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The company had revenue of $53.26 million for the quarter, compared to the consensus estimate of $75.91 million. During the same period last year, the business posted ($0.12) earnings per share. The firm’s quarterly revenue was down 46.1% compared to the same quarter last year. As a group, research analysts predict that C3.ai will post -2.44 EPS for the current year.
Insiders Place Their Bets
In related news, Chairman Thomas M. Siebel sold 165,278 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $8.49, for a total value of $1,403,210.22. Following the sale, the chairman directly owned 722,362 shares of the company’s stock, valued at $6,132,853.38. This trade represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen Bradley Ehikian sold 52,194 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $8.22, for a total value of $429,034.68. Following the completion of the sale, the chief executive officer directly owned 721,485 shares in the company, valued at $5,930,606.70. The trade was a 6.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,623,178 shares of company stock valued at $15,560,098 over the last three months. Company insiders own 26.50% of the company’s stock.
Institutional Trading of C3.ai
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in C3.ai by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock valued at $195,055,000 after acquiring an additional 108,011 shares in the last quarter. Morgan Stanley boosted its position in C3.ai by 1.9% during the 4th quarter. Morgan Stanley now owns 4,824,499 shares of the company’s stock valued at $65,034,000 after acquiring an additional 91,802 shares in the last quarter. State Street Corp boosted its position in C3.ai by 3.3% during the 4th quarter. State Street Corp now owns 2,976,389 shares of the company’s stock valued at $40,122,000 after acquiring an additional 94,086 shares in the last quarter. Geode Capital Management LLC boosted its position in C3.ai by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,868,578 shares of the company’s stock valued at $38,675,000 after acquiring an additional 21,451 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in C3.ai by 9.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,425,976 shares of the company’s stock valued at $42,066,000 after acquiring an additional 211,786 shares in the last quarter. 38.96% of the stock is owned by institutional investors.
C3.ai Company Profile
C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.
The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.