DA Davidson Issues Pessimistic Forecast for C3.ai (NYSE:AI) Stock Price

C3.ai (NYSE:AI) had its price target decreased by DA Davidson from $40.00 to $25.00 in a research report sent to investors on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Several other analysts have also issued reports on the stock. JMP Securities boosted their target price on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Piper Sandler reduced their price objective on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday. Finally, KeyCorp reduced their price target on C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.33.

C3.ai Trading Down 10.0 %

Shares of AI opened at $23.80 on Thursday. The firm has a fifty day simple moving average of $32.65 and a two-hundred day simple moving average of $29.55. The firm has a market cap of $3.07 billion, a PE ratio of -10.77 and a beta of 1.98. C3.ai has a 1-year low of $18.85 and a 1-year high of $45.08.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The firm had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. As a group, research analysts forecast that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In other news, CFO Hitesh Lath sold 3,949 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total transaction of $167,279.64. Following the completion of the transaction, the chief financial officer now owns 851 shares in the company, valued at $36,048.36. This trade represents a 82.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the completion of the sale, the chief executive officer now owns 1,336,968 shares in the company, valued at $44,173,422.72. This represents a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,643,311 shares of company stock valued at $59,736,620 in the last three months. 33.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On C3.ai

A number of hedge funds have recently bought and sold shares of the business. Creative Planning increased its holdings in shares of C3.ai by 7.0% in the 3rd quarter. Creative Planning now owns 56,573 shares of the company’s stock worth $1,371,000 after buying an additional 3,712 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in C3.ai by 21.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,745 shares of the company’s stock worth $115,000 after acquiring an additional 839 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in C3.ai during the third quarter valued at approximately $10,560,000. Pathway Financial Advisers LLC lifted its stake in shares of C3.ai by 2,501.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 8,844 shares of the company’s stock valued at $214,000 after purchasing an additional 8,504 shares during the last quarter. Finally, Focus Financial Network Inc. boosted its holdings in shares of C3.ai by 34.5% in the 3rd quarter. Focus Financial Network Inc. now owns 45,293 shares of the company’s stock worth $1,097,000 after purchasing an additional 11,617 shares during the period. Hedge funds and other institutional investors 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.