C3.ai (NYSE:AI) Price Target Lowered to $28.00 at Piper Sandler

C3.ai (NYSE:AI) had its target price reduced by stock analysts at Piper Sandler from $42.00 to $28.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 19.43% from the stock’s previous close.

AI has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a report on Wednesday, December 11th. JMP Securities raised their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. DA Davidson raised shares of C3.ai to a “hold” rating in a report on Wednesday, December 18th. Finally, KeyCorp cut shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target for the company. in a research report on Thursday, December 19th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.33.

C3.ai Trading Down 1.8 %

AI stock opened at $23.44 on Thursday. The firm has a 50-day moving average price of $32.39 and a 200-day moving average price of $29.54. C3.ai has a 12 month low of $18.85 and a 12 month high of $45.08. The stock has a market capitalization of $3.03 billion, a P/E ratio of -10.61 and a beta of 1.98.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. As a group, equities analysts predict that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Transactions at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the sale, the chief executive officer now owns 1,336,968 shares of the company’s stock, valued at approximately $44,173,422.72. This represents a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Hitesh Lath sold 3,949 shares of C3.ai stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the transaction, the chief financial officer now directly owns 851 shares of the company’s stock, valued at approximately $36,048.36. This trade represents a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,643,311 shares of company stock worth $59,736,620 over the last three months. 33.54% of the stock is owned by company insiders.

Institutional Trading of C3.ai

Several large investors have recently modified their holdings of the stock. Brown Lisle Cummings Inc. lifted its position in shares of C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares during the period. Victory Capital Management Inc. raised its holdings in shares of C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after purchasing an additional 457 shares during the period. Legal & General Group Plc boosted its position in shares of C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock worth $4,102,000 after purchasing an additional 517 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after buying an additional 555 shares during the period. 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.