C3.ai, Inc. (NYSE:AI) Receives $31.33 Consensus Price Target from Analysts

C3.ai, Inc. (NYSE:AI) has earned an average rating of “Hold” from the fourteen research firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $31.33.

A number of research analysts recently weighed in on AI shares. Morgan Stanley decreased their price target on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Northland Securities increased their target price on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. JMP Securities lifted their price target on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Piper Sandler reduced their price objective on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, KeyCorp dropped their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, February 27th.

C3.ai Price Performance

C3.ai stock opened at $19.15 on Thursday. C3.ai has a 12 month low of $17.03 and a 12 month high of $45.08. The stock has a market capitalization of $2.54 billion, a PE ratio of -8.66 and a beta of 2.01. The business has a 50 day simple moving average of $26.08 and a 200-day simple moving average of $29.31.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, equities research analysts anticipate that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the transaction, the director now owns 161,664 shares of the company’s stock, valued at approximately $4,824,053.76. This trade represents a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. The trade was a 18.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,486,813 shares of company stock worth $42,407,563. Company insiders own 33.54% of the company’s stock.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after acquiring an additional 92,280 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of C3.ai in the fourth quarter valued at approximately $3,996,000. Vanguard Group Inc. increased its stake in C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after buying an additional 446,529 shares during the period. Janney Montgomery Scott LLC lifted its holdings in C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after buying an additional 22,949 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in C3.ai in the 4th quarter valued at approximately $2,015,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.