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

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

Several brokerages have recently weighed in on AI. Morgan Stanley decreased their price target on C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. Canaccord Genuity Group lowered their price target on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Oppenheimer restated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, Piper Sandler cut their price target on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th.

C3.ai Stock Performance

C3.ai stock opened at $27.70 on Monday. The stock has a market cap of $3.52 billion, a PE ratio of -12.15 and a beta of 1.80. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $38.30. The firm’s 50-day simple moving average is $24.28 and its 200 day simple moving average is $25.76.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.08. The business had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.56) earnings per share. As a group, analysts predict that C3.ai will post -2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Several institutional investors and hedge funds have recently modified their holdings of AI. Vanguard Group Inc. raised its stake in C3.ai by 3.1% during the first quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after purchasing an additional 317,768 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in C3.ai during the second quarter worth approximately $3,465,000. Virtu Financial LLC increased its stake in C3.ai by 541.6% during the first quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock worth $2,943,000 after acquiring an additional 91,774 shares during the last quarter. Hsbc Holdings PLC raised its position in 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 during the period. Finally, Evergreen Capital Management LLC bought a new stake in shares of C3.ai in the 2nd quarter valued at approximately $1,453,000. Institutional investors own 38.96% of the company’s stock.

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.