C3.ai (NYSE:AI) Reaches New 12-Month High – Should You Buy?

C3.ai, Inc. (NYSE:AI)’s share price hit a new 52-week high on Monday . The stock traded as high as $38.65 and last traded at $38.65, with a volume of 283112 shares trading hands. The stock had previously closed at $37.42.

Wall Street Analyst Weigh In

A number of research firms have commented on AI. Piper Sandler Companies reaffirmed a “neutral” rating and set a $24.00 target price on shares of C3.ai in a report on Thursday, September 5th. Wedbush decreased their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Canaccord Genuity Group dropped their target price on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Piper Sandler decreased their price target on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, C3.ai currently has a consensus rating of “Hold” and a consensus target price of $27.70.

C3.ai Stock Down 4.0 %

The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of -15.95 and a beta of 1.80. The company has a 50-day moving average price of $26.56 and a 200-day moving average price of $26.51.

C3.ai (NYSE:AI) last released its quarterly 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. The company had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.56) earnings per share. As a group, analysts forecast that C3.ai, Inc. will post -2.31 earnings per share for the current year.

Institutional Trading of C3.ai

Institutional investors have recently made changes to their positions in the stock. Global Assets Advisory LLC bought a new stake in C3.ai during the third quarter worth approximately $743,000. Janney Montgomery Scott LLC bought a new stake in shares of C3.ai in the 3rd quarter worth $785,000. International Assets Investment Management LLC acquired a new stake in shares of C3.ai in the third quarter valued at $10,560,000. Susquehanna Fundamental Investments LLC bought a new position in C3.ai during the second quarter valued at about $3,465,000. Finally, EverSource Wealth Advisors LLC grew its holdings in C3.ai by 4,860.6% during the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock worth $865,000 after acquiring an additional 31,302 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Company Profile

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.