UBS Group Forecasts Strong Price Appreciation for C3.ai (NYSE:AI) Stock

C3.ai (NYSE:AIGet Free Report) had its target price boosted by analysts at UBS Group from $9.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 13.65% from the stock’s current price.

Several other analysts have also recently weighed in on AI. BMO Capital Markets set a $7.00 price target on C3.ai in a report on Thursday, February 26th. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a report on Thursday. 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. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a report on Thursday. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of C3.ai in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $13.23.

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C3.ai Trading Down 1.4%

Shares of NYSE AI opened at $10.56 on Thursday. The firm’s 50-day moving average price is $9.10 and its 200-day moving average price is $11.16. C3.ai has a 1-year low of $7.68 and a 1-year high of $30.11. The firm has a market capitalization of $1.53 billion, a P/E ratio of -3.34 and a beta of 2.04.

C3.ai (NYSE:AIGet Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.60 million. C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The firm’s quarterly revenue was down 52.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) earnings per share. Equities research analysts forecast that C3.ai will post -3.22 EPS for the current year.

Insider Activity

In other C3.ai news, CEO Stephen Bradley Ehikian sold 52,194 shares of C3.ai stock in a transaction 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 transaction, the chief executive officer directly owned 721,485 shares of the company’s stock, valued at $5,930,606.70. This trade represents a 6.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas M. Siebel sold 369,624 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $8.72, for a total value of $3,223,121.28. Following the completion of the sale, the chief executive officer owned 722,362 shares in the company, valued at approximately $6,298,996.64. The trade was a 33.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,610,039 shares of company stock valued at $13,935,574 in the last ninety days. Corporate insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its stake in shares of 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 purchasing an additional 800 shares in the last quarter. Parallel Advisors LLC increased its stake in C3.ai by 76.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares in the last quarter. BOKF NA raised its holdings in shares of C3.ai by 20.7% during the third quarter. BOKF NA now owns 4,709 shares of the company’s stock valued at $82,000 after acquiring an additional 809 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares during the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of C3.ai by 58.0% in the third quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock valued at $41,000 after buying an additional 863 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai News Roundup

Here are the key news stories impacting C3.ai this week:

About C3.ai

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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.

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Analyst Recommendations for C3.ai (NYSE:AI)

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