C3.ai (NYSE:AI) Price Target Raised to $55.00

C3.ai (NYSE:AI) had its target price raised by analysts at JMP Securities from $40.00 to $55.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 44.13% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Wedbush decreased their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Piper Sandler upped their price target on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday. Northland Securities raised their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, StockNews.com upgraded shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.55.

C3.ai Stock Down 8.6 %

Shares of NYSE:AI opened at $38.16 on Tuesday. The company has a market cap of $4.85 billion, a price-to-earnings ratio of -17.27 and a beta of 1.99. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The firm’s 50-day simple moving average is $29.78 and its 200-day simple moving average is $27.47.

Insiders Place Their Bets

In other news, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the transaction, the chief financial officer now owns 851 shares of the company’s stock, valued at $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the sale, the director now owns 546,495 shares in the company, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. 33.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On C3.ai

Several large investors have recently added to or reduced their stakes in the business. JTC Employer Solutions Trustee Ltd purchased a new stake in C3.ai in the 3rd quarter valued at about $25,000. Blue Trust Inc. boosted its position in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares during the last quarter. Unique Wealth Strategies LLC purchased a new stake in C3.ai in the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC acquired a new position in C3.ai during the second quarter worth approximately $29,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in C3.ai by 311.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after purchasing an additional 795 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

About C3.ai

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.