Analysts Set C3.ai, Inc. (NYSE:AI) PT at $29.91

Shares of C3.ai, Inc. (NYSE:AI) have received an average rating of “Hold” from the nine research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $31.50.

Several research firms have weighed in on AI. Wedbush lowered their price target 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. Piper Sandler increased their price target on shares of C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, March 4th. 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. Finally, Bank of America increased their price target on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Thursday, February 29th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of C3.ai by 6.7% during the third quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock valued at $267,383,000 after acquiring an additional 659,986 shares during the last quarter. International Assets Investment Management LLC bought a new position in C3.ai during the fourth quarter worth $25,630,000. Arkadios Wealth Advisors raised its stake in C3.ai by 68.5% during the fourth quarter. Arkadios Wealth Advisors now owns 20,744 shares of the company’s stock worth $596,000 after buying an additional 8,436 shares during the last quarter. Fort Pitt Capital Group LLC bought a new position in C3.ai during the third quarter worth $204,000. Finally, Raymond James & Associates increased its stake in C3.ai by 148.3% in the third quarter. Raymond James & Associates now owns 158,943 shares of the company’s stock valued at $4,056,000 after purchasing an additional 94,932 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Performance

Shares of AI stock opened at $22.34 on Thursday. The firm’s 50-day moving average is $27.23 and its 200-day moving average is $27.34. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -9.59 and a beta of 1.70. C3.ai has a 52-week low of $16.79 and a 52-week high of $48.87.

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

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.