C3.ai (NYSE:AI) Receives Hold Rating from Needham & Company LLC

C3.ai (NYSE:AI)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other brokerages have also commented on AI. Morgan Stanley upped their target price on C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group increased their price objective on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. JMP Securities raised their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. DA Davidson raised shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.33.

C3.ai Price Performance

Shares of C3.ai stock opened at $23.44 on Thursday. The firm has a fifty day moving average price of $32.39 and a two-hundred day moving average price of $29.54. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The company has a market cap of $3.03 billion, a PE ratio of -10.61 and a beta of 1.98.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The company had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. Analysts expect that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at C3.ai

In other C3.ai news, Director Richard C. Levin sold 12,000 shares of C3.ai stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the transaction, the director now owns 161,664 shares in the company, valued at approximately $4,824,053.76. The trade was a 6.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $5,250,000.00. Following the sale, the director now owns 546,495 shares in the company, valued at $22,952,790. The trade was a 18.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock valued at $59,736,620 in the last three months. 33.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Lisle Cummings Inc. grew its stake in shares of C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. R Squared Ltd bought a new position in C3.ai in the 4th quarter valued at $29,000. Russell Investments Group Ltd. increased its stake in shares of C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after buying an additional 456 shares during the period. WealthTrak Capital Management LLC acquired a new stake in shares of C3.ai in the 4th quarter valued at $33,000. Finally, CENTRAL TRUST Co bought a new stake in shares of C3.ai during the fourth quarter worth $34,000. Institutional investors and hedge funds 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.