C3.ai (NYSE:AI) Upgraded at StockNews.com

StockNews.com upgraded shares of C3.ai (NYSE:AI) to a sell rating in a research note issued to investors on Tuesday.

Several other research firms also recently commented on AI. Piper Sandler decreased their price objective on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Wedbush reduced their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Finally, Canaccord Genuity Group decreased their price objective on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.70.

C3.ai Price Performance

Shares of AI stock traded down $0.65 during mid-day trading on Tuesday, reaching $25.73. The stock had a trading volume of 217,647 shares, compared to its average volume of 5,323,085. C3.ai has a one year low of $18.85 and a one year high of $38.30. The firm’s 50 day simple moving average is $24.73 and its 200 day simple moving average is $25.95.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. During the same period last year, the firm earned ($0.56) EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities analysts expect that C3.ai will post -2.31 EPS for the current year.

Hedge Funds Weigh In On C3.ai

A number of large investors have recently bought and sold shares of the stock. Swiss National Bank increased its position in C3.ai by 1.6% during the 1st quarter. Swiss National Bank now owns 195,200 shares of the company’s stock valued at $5,284,000 after purchasing an additional 3,000 shares during the period. ProShare Advisors LLC raised its stake in C3.ai by 8.4% during the first quarter. ProShare Advisors LLC now owns 16,790 shares of the company’s stock valued at $455,000 after buying an additional 1,300 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of C3.ai by 8.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,964 shares of the company’s stock valued at $622,000 after acquiring an additional 1,820 shares in the last quarter. Vanguard Group Inc. raised its position in shares of C3.ai by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock worth $288,239,000 after purchasing an additional 317,768 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in C3.ai by 6.2% during the 1st quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock valued at $277,000 after purchasing an additional 600 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.