C3.ai, Inc. (NYSE:AI) Given Average Recommendation of “Reduce” by Brokerages

C3.ai, Inc. (NYSE:AI) has received a consensus rating of “Reduce” from the fifteen analysts that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $21.9167.

AI has been the subject of several analyst reports. Canaccord Genuity Group reissued a “hold” rating and set a $16.00 price target on shares of C3.ai in a report on Thursday, December 4th. DA Davidson reiterated an “underperform” rating and issued a $13.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of C3.ai in a report on Thursday, December 4th. Finally, UBS Group lifted their price objective on C3.ai from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, September 12th.

Insiders Place Their Bets

In other news, CEO Stephen Bradley Ehikian sold 234,918 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $13.56, for a total transaction of $3,185,488.08. Following the sale, the chief executive officer directly owned 924,074 shares of the company’s stock, valued at $12,530,443.44. This represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Hitesh Lath sold 15,042 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $14.38, for a total transaction of $216,303.96. Following the completion of the transaction, the chief financial officer owned 223,120 shares of the company’s stock, valued at $3,208,465.60. This trade represents a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,948,845 shares of company stock valued at $30,849,644 in the last 90 days. 26.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC boosted its stake in C3.ai by 22.1% in the third quarter. CIBC Private Wealth Group LLC now owns 24,607 shares of the company’s stock valued at $427,000 after acquiring an additional 4,446 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in C3.ai during the third quarter worth about $227,000. Mayport LLC acquired a new position in shares of C3.ai during the 3rd quarter worth about $191,000. XTX Topco Ltd acquired a new position in C3.ai during the third quarter valued at approximately $1,702,000. Finally, Nomura Holdings Inc. grew its holdings in shares of C3.ai by 36.1% in the 3rd quarter. Nomura Holdings Inc. now owns 32,943 shares of the company’s stock valued at $571,000 after buying an additional 8,733 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Price Performance

Shares of C3.ai stock opened at $13.65 on Friday. C3.ai has a 52-week low of $12.59 and a 52-week high of $35.98. The firm has a market capitalization of $1.92 billion, a PE ratio of -4.82 and a beta of 1.97. The company’s fifty day moving average price is $14.62 and its two-hundred day moving average price is $18.48.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.08. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The business had revenue of $75.15 million for the quarter, compared to analyst estimates of $74.86 million. During the same period in the previous year, the business earned ($0.06) EPS. The firm’s revenue was down 20.3% on a year-over-year basis. Analysts predict that C3.ai will post -2.44 earnings per share for the current fiscal year.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.