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

C3.ai, Inc. (NYSE:AI) has received an average rating of “Reduce” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $19.00.

Several research firms have commented on AI. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. DA Davidson restated an “underperform” rating and issued a $13.00 price objective on shares of C3.ai in a report on Thursday, December 4th. Finally, Oppenheimer set a $10.00 target price on shares of C3.ai in a research note on Friday.

Insider Activity at C3.ai

In other C3.ai news, Chairman Thomas M. Siebel sold 27,605 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $10.81, for a total value of $298,410.05. Following the transaction, the chairman directly owned 747,882 shares of the company’s stock, valued at $8,084,604.42. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen Bradley Ehikian sold 234,918 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $13.56, for a total value of $3,185,488.08. Following the completion of the sale, the chief executive officer owned 924,074 shares of the company’s stock, valued at $12,530,443.44. This trade represents a 20.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,916,278 shares of company stock valued at $27,289,958. Corporate insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AI. Bogart Wealth LLC raised its position in C3.ai by 22.7% in the second quarter. Bogart Wealth LLC now owns 2,700 shares of the company’s stock valued at $66,000 after purchasing an additional 500 shares during the period. ProShare Advisors LLC increased its position in shares of C3.ai by 2.4% during the 2nd quarter. ProShare Advisors LLC now owns 25,548 shares of the company’s stock worth $628,000 after purchasing an additional 593 shares during the last quarter. Moors & Cabot Inc. raised its holdings in C3.ai by 5.2% in the 2nd quarter. Moors & Cabot Inc. now owns 14,263 shares of the company’s stock valued at $350,000 after buying an additional 700 shares during the period. Ameritas Investment Partners Inc. raised its holdings in C3.ai by 6.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,365 shares of the company’s stock valued at $304,000 after buying an additional 791 shares during the period. Finally, NewEdge Advisors LLC lifted its position in C3.ai by 48.7% in the first 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. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Price Performance

Shares of NYSE:AI opened at $10.73 on Wednesday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -3.79 and a beta of 1.98. The business’s 50 day moving average price is $13.81 and its 200-day moving average price is $16.67. C3.ai has a 1 year low of $10.19 and a 1 year high of $35.98.

C3.ai (NYSE:AI) last posted 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. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The business had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. During the same period last year, the firm posted ($0.06) earnings per share. The company’s revenue was down 20.3% compared to the same quarter last year. On average, sell-side analysts expect that C3.ai will post -2.44 earnings per share 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.