Morgan Stanley Has Lowered Expectations for C3.ai (NYSE:AI) Stock Price

C3.ai (NYSE:AI) had its target price lowered by investment analysts at Morgan Stanley from $32.00 to $30.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 27.96% from the company’s current price.

Several other research analysts have also weighed in on AI. Piper Sandler decreased their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday. KeyCorp lowered shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target on the stock. in a report on Thursday, December 19th. DA Davidson upgraded C3.ai to a “hold” rating in a report on Wednesday, December 18th. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 26th. Finally, JMP Securities boosted their price target on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.33.

C3.ai Trading Down 1.8 %

NYSE:AI opened at $23.44 on Thursday. C3.ai has a 12-month low of $18.85 and a 12-month high of $45.08. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -10.61 and a beta of 1.98. The company’s 50-day moving average is $32.39 and its two-hundred day moving average is $29.54.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, equities research analysts forecast that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total value of $18,252,022.88. Following the completion of the sale, the chief executive officer now owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the director now directly owns 546,495 shares in the company, valued at $22,952,790. This represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,643,311 shares of company stock worth $59,736,620. 33.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently bought and sold shares of AI. Charles Schwab Investment Management Inc. lifted its holdings in C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after buying an additional 92,280 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of C3.ai during the 3rd quarter valued at approximately $1,624,000. Janney Montgomery Scott LLC lifted its stake in C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after purchasing an additional 22,949 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in C3.ai in the fourth quarter worth $2,015,000. Finally, Friedenthal Financial bought a new stake in C3.ai during the fourth quarter valued at $757,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.