Brokerages Set C3.ai, Inc. (NYSE:AI) Price Target at $21.00

C3.ai, Inc. (NYSE:AI) has earned an average recommendation of “Reduce” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, six have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $21.00.

A number of analysts have weighed in on AI shares. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of C3.ai in a report on Thursday, December 4th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $16.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Bank of America set a $10.00 price target on C3.ai in a research note on Friday, January 30th. DA Davidson reissued an “underperform” rating and issued a $13.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st.

Insiders Place Their Bets

In related news, CEO Stephen Bradley Ehikian sold 234,918 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 924,074 shares in the company, valued at approximately $12,530,443.44. This trade represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Hitesh Lath sold 15,042 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were 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 in the company, valued at approximately $3,208,465.60. The trade was a 6.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,884,304 shares of company stock valued at $24,970,674. Insiders own 26.50% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AI. AQR Capital Management LLC increased its stake in shares of C3.ai by 267.9% in the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock worth $3,788,000 after purchasing an additional 132,056 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after buying an additional 800 shares during the period. Woodline Partners LP bought a new position in C3.ai in the 1st quarter worth approximately $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in C3.ai by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock valued at $5,111,000 after buying an additional 10,675 shares in the last quarter. Finally, Focus Partners Wealth grew its stake in C3.ai by 2.6% in the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock valued at $1,242,000 after buying an additional 1,503 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

C3.ai stock opened at $10.13 on Friday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -3.58 and a beta of 1.98. C3.ai has a 52-week low of $9.53 and a 52-week high of $30.24. The firm has a 50 day moving average price of $12.54 and a two-hundred day moving average price of $15.18.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.08. The company had revenue of $75.15 million during the quarter, compared to analysts’ expectations of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. C3.ai’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) earnings per share. As a group, equities research analysts predict that C3.ai will post -2.44 EPS 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.