Brokerages Set C3.ai, Inc. (NYSE:AI) Target Price at $29.91

Shares of C3.ai, Inc. (NYSE:AI) have earned an average recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $29.91.

AI has been the subject of several recent research reports. Bank of America upped their target price on C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Piper Sandler increased their price objective on C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. DA Davidson decreased their price objective on C3.ai from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, December 7th. Canaccord Genuity Group increased their price objective on C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Finally, Wedbush decreased their price objective on C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 29th.

C3.ai Stock Down 0.7 %

Shares of C3.ai stock opened at $27.06 on Friday. The firm has a market cap of $3.30 billion, a P/E ratio of -11.61 and a beta of 1.77. C3.ai has a fifty-two week low of $16.79 and a fifty-two week high of $48.87. The business has a 50-day moving average price of $28.36 and a 200 day moving average price of $27.65.

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

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently modified their holdings of the stock. Fort Pitt Capital Group LLC acquired a new stake in shares of C3.ai during the 3rd quarter valued at $204,000. Raymond James & Associates lifted its position in shares of C3.ai by 148.3% during the 3rd quarter. Raymond James & Associates now owns 158,943 shares of the company’s stock valued at $4,056,000 after acquiring an additional 94,932 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of C3.ai by 201.2% in the third quarter. Citigroup Inc. now owns 166,303 shares of the company’s stock valued at $4,244,000 after purchasing an additional 111,095 shares in the last quarter. Fortem Financial Group LLC lifted its holdings in shares of C3.ai by 79.2% in the third quarter. Fortem Financial Group LLC now owns 26,280 shares of the company’s stock valued at $671,000 after purchasing an additional 11,617 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of C3.ai by 11.7% in the third quarter. Newbridge Financial Services Group Inc. now owns 22,363 shares of the company’s stock valued at $571,000 after purchasing an additional 2,336 shares in 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.