C3.ai, Inc. (NYSE:AI) Receives Average Recommendation of “Reduce” from Analysts

C3.ai, Inc. (NYSE:AI) has received a consensus rating of “Reduce” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $12.9231.

A number of equities research analysts have commented on the company. UBS Group raised their price objective on C3.ai from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Morgan Stanley boosted their target price on C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, June 4th. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. DA Davidson reaffirmed an “underperform” rating and set a $7.00 price target on shares of C3.ai in a research note on Thursday, June 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th.

C3.ai Stock Performance

Shares of NYSE AI opened at $8.90 on Friday. The stock has a fifty day moving average price of $9.70 and a two-hundred day moving average price of $10.73. The firm has a market cap of $1.29 billion, a P/E ratio of -2.66 and a beta of 2.04. C3.ai has a 1 year low of $7.68 and a 1 year high of $30.11.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.60 million. During the same period last year, the company posted ($0.16) EPS. The company’s revenue was down 52.5% compared to the same quarter last year. On average, research analysts predict that C3.ai will post -2.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Hitesh Lath sold 34,210 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $10.95, for a total value of $374,599.50. Following the sale, the chief financial officer directly owned 233,106 shares in the company, valued at approximately $2,552,510.70. This represents a 12.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen Bradley Ehikian sold 52,194 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The shares were 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 owned 721,485 shares in the company, valued at approximately $5,930,606.70. This represents a 6.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,599,644 shares of company stock worth $15,059,516. Company insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AI. AQR Capital Management LLC boosted its position in C3.ai by 267.9% in the 1st quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock valued at $3,788,000 after buying an additional 132,056 shares during the last quarter. NewEdge Advisors LLC boosted its position in C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after buying an additional 800 shares during the last quarter. Woodline Partners LP bought a new position in C3.ai in the 1st quarter valued at $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in C3.ai by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock valued at $5,111,000 after buying an additional 10,675 shares during the last quarter. Finally, Focus Partners Wealth boosted its position in C3.ai by 2.6% in the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock valued at $1,242,000 after buying an additional 1,503 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors.

About C3.ai

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.