JMP Securities Reaffirms “Market Outperform” Rating for C3.ai (NYSE:AI)

JMP Securities reiterated their market outperform rating on shares of C3.ai (NYSE:AI) in a research report released on Thursday, Benzinga reports. JMP Securities currently has a $40.00 price objective on the stock.

A number of other equities research analysts have also weighed in on AI. DA Davidson decreased their price objective on shares of C3.ai from $30.00 to $20.00 and set a neutral rating for the company in a report on Thursday. Piper Sandler Companies restated a neutral rating and issued a $24.00 price target on shares of C3.ai in a report on Thursday. Northland Securities upgraded shares of C3.ai from a market perform rating to an outperform rating and set a $35.00 price target for the company in a report on Thursday, May 30th. Wedbush reduced their price target on shares of C3.ai from $40.00 to $30.00 and set an outperform rating for the company in a report on Thursday. Finally, Bank of America reduced their price objective on shares of C3.ai from $24.00 to $20.00 and set an underperform rating for the company in a research note on Thursday. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, C3.ai has an average rating of Hold and an average target price of $27.70.

C3.ai Trading Up 0.9 %

C3.ai stock opened at $21.30 on Thursday. The firm has a 50-day moving average price of $26.16 and a 200-day moving average price of $26.64. The firm has a market capitalization of $2.66 billion, a PE ratio of -9.10 and a beta of 1.81. C3.ai has a 12-month low of $18.85 and a 12-month high of $38.30.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.08. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The firm had revenue of $87.21 million during the quarter, compared to analyst estimates of $86.94 million. During the same quarter last year, the business earned ($0.56) EPS. The business’s revenue was up 20.5% on a year-over-year basis. As a group, sell-side analysts predict that C3.ai will post -2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the sale, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at approximately $203,668.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.00% of the stock is owned by insiders.

Hedge Funds Weigh In On C3.ai

Several large investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new position in C3.ai during the fourth quarter worth $29,000. Toth Financial Advisory Corp raised its position in C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 900 shares during the period. Hobbs Group Advisors LLC acquired a new position in C3.ai during the second quarter worth $29,000. Unique Wealth Strategies LLC acquired a new position in C3.ai during the second quarter worth $28,000. Finally, Blue Trust Inc. raised its position in C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares during the period. 38.96% of the stock is currently 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.