C3.ai (NYSE:AI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

C3.ai (NYSE:AI) had its price target raised by Morgan Stanley from $21.00 to $32.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 16.14% from the stock’s previous close.

Other analysts have also issued research reports about the company. Piper Sandler dropped their price objective on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. DA Davidson lifted their target price on shares of C3.ai from $20.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Wedbush reduced their price target 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. Finally, Bank of America lowered their price objective on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Four analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, C3.ai currently has an average rating of “Hold” and a consensus price target of $35.55.

C3.ai Trading Down 8.6 %

Shares of C3.ai stock opened at $38.16 on Tuesday. The business’s 50-day moving average price is $29.78 and its 200-day moving average price is $27.47. The firm has a market capitalization of $4.85 billion, a PE ratio of -17.27 and a beta of 1.99. C3.ai has a 12 month low of $18.85 and a 12 month high of $45.08.

Insider Activity at C3.ai

In other news, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction dated 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 transaction, the director now directly owns 546,495 shares of the company’s stock, valued at $22,952,790. The trade was a 18.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of C3.ai stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $476,238.00. Following the transaction, the chief financial officer now directly owns 851 shares in the company, valued at $35,742. This represents a 93.02 % decrease in their position. The disclosure for this sale can be found here. 33.54% of the stock is owned by insiders.

Institutional Investors Weigh In On C3.ai

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after purchasing an additional 92,280 shares in the last quarter. PDT Partners LLC bought a new position in shares of C3.ai in the 3rd quarter valued at about $1,624,000. Global Assets Advisory LLC purchased a new position in C3.ai in the third quarter worth about $743,000. Janney Montgomery Scott LLC bought a new stake in C3.ai during the third quarter worth approximately $785,000. Finally, Intech Investment Management LLC purchased a new stake in C3.ai during the third quarter valued at approximately $859,000. Institutional investors 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.