C3.ai, Inc. (NYSE:AI) Stock Has Consensus Price Target of $9.62 According to Brokerages

Shares of C3.ai, Inc. (NYSE:AI) have been assigned a consensus recommendation of “Reduce” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $9.62.

A number of equities analysts have weighed in on AI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, September 3rd. UBS Group restated an “underperform” rating on shares of C3.ai in a research note on Tuesday, September 1st. Yorkville Ives began coverage on C3.ai in a research note on Tuesday, October 6th. They issued an “in-line” rating and a $12.50 price target on the stock. Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a research report on Tuesday, September 29th. Finally, DA Davidson reiterated an “underperform” rating and set a $7.00 price objective on shares of C3.ai in a research note on Tuesday, September 1st.

Insider Buying and Selling at C3.ai

In other news, CEO Thomas Siebel sold 453,314 shares of C3.ai stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $10.51, for a total value of $4,764,330.14. Following the completion of the transaction, the chief executive officer owned 722,362 shares of the company’s stock, valued at $7,592,024.62. The trade was a 38.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 21,077 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $10.48, for a total transaction of $220,886.96. Following the completion of the transaction, the chief financial officer owned 371,036 shares in the company, valued at approximately $3,888,457.28. The trade was a 5.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,413,672 shares of company stock valued at $15,577,026 over the last 90 days. Corporate insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its position in C3.ai by 55.1% in the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock worth $27,636,000 after purchasing an additional 1,166,302 shares during the period. First Trust Advisors LP raised its stake in C3.ai by 67.3% during the 1st quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock valued at $10,233,000 after buying an additional 488,710 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of C3.ai by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 690,694 shares of the company’s stock valued at $5,816,000 after buying an additional 5,631 shares during the period. Edgestream Partners L.P. lifted its holdings in shares of C3.ai by 247.5% during the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock valued at $5,545,000 after buying an additional 469,057 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of C3.ai in the 1st quarter worth $2,686,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Down 0.1%

Shares of AI stock opened at $11.54 on Friday. The business’s fifty day moving average is $11.11 and its 200 day moving average is $10.06. C3.ai has a twelve month low of $7.68 and a twelve month high of $17.45.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The firm had revenue of $52.38 million for the quarter, compared to analysts’ expectations of $52.06 million. During the same quarter in the previous year, the business posted ($0.37) EPS. The company’s quarterly revenue was down 25.4% on a year-over-year basis. Analysts forecast that C3.ai will post -2.20 EPS for the current fiscal year.

C3.ai Company Profile

C3.ai, Inc (NYSE:AI) is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations deploy AI at scale. Its products support the development, integration and operation of AI applications using data from multiple business systems and sources.

The company’s offerings include the C3 AI Platform, which provides capabilities for data management, machine learning, application development and model operations, as well as prebuilt applications for areas such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement and energy management.