C3.ai (NYSE:AI) Stock Price Down 0.4%

C3.ai, Inc. (NYSE:AI)’s stock price fell 0.4% on Tuesday . The stock traded as low as $27.40 and last traded at $27.53. 1,042,523 shares were traded during trading, a decline of 87% from the average session volume of 8,079,390 shares. The stock had previously closed at $27.63.

Analyst Ratings Changes

Several brokerages have recently weighed in on AI. Piper Sandler lifted their price objective on C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Wedbush dropped their target price on C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Bank of America boosted their target price on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. DA Davidson dropped their target price on C3.ai from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, December 7th. Finally, Canaccord Genuity Group lifted their price objective on C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, C3.ai has an average rating of “Hold” and an average target price of $29.91.

C3.ai Stock Up 0.7 %

The business has a 50 day simple moving average of $28.30 and a 200-day simple moving average of $27.65.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.13. The firm had revenue of $78.40 million during the quarter, compared to analysts’ expectations of $75.92 million. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. Equities research analysts predict that C3.ai, Inc. will post -2.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in C3.ai by 98.8% during the first quarter. JPMorgan Chase & Co. now owns 83,970 shares of the company’s stock worth $1,907,000 after acquiring an additional 41,723 shares in the last quarter. Raymond James & Associates raised its holdings in C3.ai by 27.9% during the first quarter. Raymond James & Associates now owns 93,029 shares of the company’s stock worth $2,112,000 after acquiring an additional 20,295 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in C3.ai by 33.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,167 shares of the company’s stock worth $458,000 after acquiring an additional 5,025 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in C3.ai by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 742,737 shares of the company’s stock worth $16,861,000 after acquiring an additional 33,060 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new stake in C3.ai in the first quarter valued at approximately $44,000. 38.96% of the stock is owned by institutional investors and hedge funds.

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.