According to Zacks, “C3.ai Inc. is an enterprise AI software provider for accelerating digital transformation. C3.ai delivers the C3 AI Suite for developing, deploying and operating large-scale AI, predictive analytics and IoT applications. The core of the C3.ai offering is a proprietary, model-driven AI architecture which enhances data science and application development. C3.ai is based in Redwood City, United States. “
AI has been the topic of a number of other research reports. Piper Sandler lowered shares of C3.ai from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $15.00 in a research report on Thursday, June 2nd. Needham & Company LLC decreased their price target on C3.ai from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd. Morgan Stanley lowered their target price on shares of C3.ai from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Thursday, June 2nd. JPMorgan Chase & Co. decreased their price target on shares of C3.ai from $24.00 to $20.00 in a research note on Thursday, June 2nd. Finally, Wedbush dropped their price target on C3.ai to $13.00 in a research note on Friday, June 3rd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, C3.ai currently has an average rating of “Hold” and a consensus price target of $19.95.
C3.ai (NYSE:AI – Get Rating) last posted its quarterly earnings data on Wednesday, June 1st. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.03. The firm had revenue of $72.32 million during the quarter, compared to analysts’ expectations of $71.28 million. C3.ai had a negative net margin of 75.99% and a negative return on equity of 13.97%. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.24) EPS. On average, sell-side analysts anticipate that C3.ai will post -2.01 earnings per share for the current year.
In other C3.ai news, CFO Juho Parkkinen sold 2,548 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $17.89, for a total value of $45,583.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 10,816 shares of company stock worth $218,278. Corporate insiders own 52.65% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in C3.ai by 29.9% during the 1st quarter. Vanguard Group Inc. now owns 7,969,409 shares of the company’s stock worth $180,905,000 after acquiring an additional 1,834,412 shares during the last quarter. Renaissance Technologies LLC raised its stake in C3.ai by 193.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,731,500 shares of the company’s stock valued at $54,109,000 after buying an additional 1,141,700 shares during the period. Morgan Stanley boosted its holdings in shares of C3.ai by 72.1% during the third quarter. Morgan Stanley now owns 1,537,845 shares of the company’s stock worth $71,264,000 after acquiring an additional 644,462 shares during the period. Spring Creek Capital LLC bought a new stake in shares of C3.ai during the first quarter worth approximately $13,763,000. Finally, Bank of New York Mellon Corp lifted its position in shares of C3.ai by 732.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 622,513 shares of the company’s stock valued at $28,848,000 after acquiring an additional 547,748 shares during the period. 45.41% of the stock is currently owned by institutional investors and hedge funds.
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.
- Get a free copy of the StockNews.com research report on C3.ai (AI)
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