C3.ai, Inc. (NYSE:AI) Receives $21.92 Consensus PT from Analysts

C3.ai, Inc. (NYSE:AI) has been assigned a consensus rating of “Reduce” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $19.00.

Several equities research analysts have recently issued reports on the company. DA Davidson restated an “underperform” rating and set a $13.00 price objective on shares of C3.ai in a report on Thursday, December 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of C3.ai in a research note on Thursday, December 4th. Canaccord Genuity Group restated a “hold” rating and issued a $16.00 price target on shares of C3.ai in a report on Thursday, December 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, December 4th.

Insider Buying and Selling

In other C3.ai news, Chairman Thomas M. Siebel sold 543,706 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $15.24, for a total transaction of $8,286,079.44. Following the transaction, the chairman owned 1,437,174 shares of the company’s stock, valued at $21,902,531.76. This trade represents a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Bradley Ehikian sold 234,918 shares of C3.ai stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $13.56, for a total transaction of $3,185,488.08. Following the completion of the transaction, the chief executive officer owned 924,074 shares in the company, valued at approximately $12,530,443.44. This trade represents a 20.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,916,218 shares of company stock valued at $27,468,077. Insiders own 26.50% of the company’s stock.

Institutional Trading of C3.ai

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in C3.ai by 5.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company’s stock valued at $69,129,000 after buying an additional 156,925 shares during the last quarter. 111 Capital acquired a new position in shares of C3.ai in the second quarter worth about $714,000. Magnetar Financial LLC acquired a new position in shares of C3.ai in the second quarter worth about $556,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in C3.ai by 1,481.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,173 shares of the company’s stock valued at $12,338,000 after purchasing an additional 470,422 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in C3.ai during the 2nd quarter valued at approximately $1,063,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Price Performance

Shares of NYSE AI opened at $11.00 on Wednesday. The company has a 50-day simple moving average of $13.93 and a 200-day simple moving average of $17.07. The company has a market cap of $1.55 billion, a PE ratio of -3.89 and a beta of 1.97. C3.ai has a 12 month low of $10.90 and a 12 month high of $35.98.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.08. The business had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, analysts anticipate that C3.ai will post -2.44 EPS for the current year.

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.