C3.ai (NYSE:AI) Shares Up 0.4%

C3.ai, Inc. (NYSE:AI) shares were up 0.4% during trading on Thursday . The company traded as high as $27.75 and last traded at $27.36. Approximately 1,028,241 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 7,938,348 shares. The stock had previously closed at $27.26.

Analyst Ratings Changes

A number of analysts recently commented on AI shares. Bank of America upped their price objective on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Piper Sandler increased their price objective on shares of C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. DA Davidson dropped their target price on shares of C3.ai from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, December 7th. Wedbush dropped their target price on shares of C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Finally, Canaccord Genuity Group increased their price target on shares of C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, C3.ai has an average rating of “Hold” and an average price target of $29.91.

C3.ai Price Performance

The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -11.74 and a beta of 1.77. The business’s 50-day simple moving average is $28.30 and its two-hundred day simple moving average is $27.65.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.13. C3.ai had a negative net margin of 95.21% and a negative return on equity of 29.60%. The firm had revenue of $78.40 million for the quarter, compared to analyst estimates of $75.92 million. Equities research analysts forecast that C3.ai, Inc. will post -2.48 earnings per share for the current year.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently modified their holdings of AI. Steward Partners Investment Advisory LLC increased its stake in C3.ai by 18.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,301 shares of the company’s stock valued at $66,000 after purchasing an additional 358 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of C3.ai by 117.7% during the third quarter. Lazard Asset Management LLC now owns 986 shares of the company’s stock valued at $25,000 after buying an additional 533 shares during the last quarter. Chilton Capital Management LLC grew its holdings in shares of C3.ai by 150.0% during the second quarter. Chilton Capital Management LLC now owns 1,000 shares of the company’s stock valued at $36,000 after buying an additional 600 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in C3.ai by 3.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 17,274 shares of the company’s stock worth $441,000 after purchasing an additional 610 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its holdings in C3.ai by 87.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock worth $39,000 after purchasing an additional 632 shares during the last quarter. Institutional investors and hedge funds 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.