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

C3.ai (NYSE:AI) was upgraded by analysts at StockNews.com to a “sell” rating in a research report issued on Tuesday.

A number of other equities research analysts also recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Canaccord Genuity Group decreased their price objective on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, September 5th. 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. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Finally, Morgan Stanley dropped their price objective 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. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, C3.ai has a consensus rating of “Hold” and an average price target of $27.70.

C3.ai Stock Up 0.1 %

NYSE:AI opened at $36.41 on Tuesday. The business’s 50-day simple moving average is $26.82 and its two-hundred day simple moving average is $26.58. The stock has a market cap of $4.63 billion, a PE ratio of -15.97 and a beta of 1.80. C3.ai has a 52 week low of $18.85 and a 52 week high of $39.88.

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

Institutional Trading of C3.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in AI. Global Assets Advisory LLC acquired a new position in C3.ai in the third quarter valued at approximately $743,000. Janney Montgomery Scott LLC purchased a new position in shares of C3.ai in the third quarter worth about $785,000. International Assets Investment Management LLC purchased a new stake in shares of C3.ai in the third quarter valued at approximately $10,560,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of C3.ai in the second quarter valued at about $3,465,000. Finally, EverSource Wealth Advisors LLC grew its position in C3.ai by 4,860.6% in the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock worth $865,000 after acquiring an additional 31,302 shares during the period. 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.