C3.ai (NYSE:AI) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of C3.ai (NYSE:AI) to a sell rating in a report issued on Tuesday morning.

AI has been the subject of several other research reports. Canaccord Genuity Group cut their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Bank of America reduced their target price on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. DA Davidson cut their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Wedbush lowered their target price on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.70.

C3.ai Price Performance

AI opened at $25.97 on Tuesday. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $38.30. The firm’s fifty day moving average price is $24.83 and its two-hundred day moving average price is $25.95. The company has a market capitalization of $3.30 billion, a P/E ratio of -11.39 and a beta of 1.80.

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, topping the consensus estimate of ($0.13) by $0.08. The firm 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 quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.56) EPS. On average, equities research analysts expect that C3.ai will post -2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in shares of C3.ai in the second quarter worth $29,000. Unique Wealth Strategies LLC purchased a new position in shares of C3.ai in the second quarter valued at about $28,000. Blue Trust Inc. lifted its position in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of C3.ai in the third quarter worth about $25,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after buying an additional 795 shares in the last quarter. Hedge funds and other 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.