Analysts Set C3.ai, Inc. (NYSE:AI) Price Target at $27.70

Shares of C3.ai, Inc. (NYSE:AI) have earned an average rating of “Hold” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.70.

A number of research analysts have commented on the company. Piper Sandler Companies reaffirmed a “neutral” rating and set a $24.00 price target on shares of C3.ai in a research report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Wedbush cut their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Canaccord Genuity Group decreased their price target on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th.

C3.ai Trading Up 1.5 %

AI opened at $36.73 on Friday. The company has a market cap of $4.67 billion, a P/E ratio of -16.11 and a beta of 2.00. C3.ai has a 12 month low of $18.85 and a 12 month high of $39.88. The business’s 50-day moving average price is $27.88 and its 200-day moving average price is $26.88.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share 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 firm had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.94 million. During the same quarter in the previous year, the company posted ($0.56) earnings per share. The business’s revenue was up 20.5% on a year-over-year basis. Equities research analysts forecast that C3.ai will post -2.31 earnings per share for the current fiscal year.

Institutional Trading of C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after buying an additional 178,870 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in C3.ai in the 2nd quarter valued at approximately $3,465,000. Charles Schwab Investment Management Inc. boosted its stake in C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after purchasing an additional 92,280 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in shares of C3.ai in the 3rd quarter worth $1,955,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of C3.ai by 679.8% during the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock valued at $2,500,000 after purchasing an additional 75,923 shares in the last quarter. 38.96% of the stock is currently owned by 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.