C3.ai (NYSE:AI) PT Lowered to $20.00 at JPMorgan Chase & Co.

C3.ai (NYSE:AIGet Rating) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $24.00 to $20.00 in a research note issued on Thursday, The Fly reports. JPMorgan Chase & Co.‘s price target points to a potential upside of 7.82% from the stock’s previous close.

AI has been the subject of several other research reports. JMP Securities lowered their price objective on shares of C3.ai from $96.00 to $59.00 and set a “market outperform” rating for the company in a research report on Thursday, March 3rd. Morgan Stanley decreased their target price on shares of C3.ai from $20.00 to $15.00 and set an “underweight” rating for the company in a research report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft cut shares of C3.ai from a “hold” rating to a “sell” rating and cut their price target for the company from $36.00 to $18.00 in a research note on Friday, March 4th. Piper Sandler cut shares of C3.ai from an “overweight” rating to a “neutral” rating and cut their price target for the company from $28.00 to $15.00 in a research note on Thursday. Finally, Wedbush cut shares of C3.ai from an “outperform” rating to a “neutral” rating and cut their price target for the company from $30.00 to $16.00 in a research note on Tuesday, May 3rd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, C3.ai has an average rating of “Hold” and an average target price of $21.90.

AI opened at $18.55 on Thursday. The firm’s fifty day moving average is $19.07 and its two-hundred day moving average is $25.09. The firm has a market cap of $1.97 billion, a PE ratio of -11.97 and a beta of 0.63. C3.ai has a twelve month low of $13.37 and a twelve month high of $76.85.

C3.ai (NYSE:AIGet Rating) last posted its earnings results on Wednesday, June 1st. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.08. The firm had revenue of $72.32 million during the quarter, compared to analyst estimates of $71.28 million. During the same quarter last year, the business posted ($0.24) earnings per share. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. Research analysts forecast that C3.ai will post -1.83 earnings per share for the current fiscal year.

In related news, CFO Juho Parkkinen sold 1,930 shares of C3.ai stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $23.57, for a total transaction of $45,490.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders sold 10,816 shares of company stock worth $218,278. Insiders own 52.65% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Claremont Financial Group Inc. grew its holdings in C3.ai by 26.0% during the 1st quarter. Claremont Financial Group Inc. now owns 2,520 shares of the company’s stock worth $54,000 after acquiring an additional 520 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of C3.ai by 19.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,672 shares of the company’s stock worth $170,000 after purchasing an additional 585 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of C3.ai by 3.3% in the 1st quarter. Treasurer of the State of North Carolina now owns 22,209 shares of the company’s stock worth $504,000 after purchasing an additional 700 shares during the period. Alliancebernstein L.P. lifted its position in shares of C3.ai by 4.9% in the 3rd quarter. Alliancebernstein L.P. now owns 15,034 shares of the company’s stock worth $697,000 after purchasing an additional 708 shares during the period. Finally, Ancora Advisors LLC lifted its position in shares of C3.ai by 218.8% in the 1st quarter. Ancora Advisors LLC now owns 1,100 shares of the company’s stock worth $73,000 after purchasing an additional 755 shares during the period. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

About C3.ai (Get Rating)

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.

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