C3.ai (NYSE:AI) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of C3.ai (NYSE:AI) to a sell rating in a research note published on Tuesday morning.

A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley cut their price objective on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. Piper Sandler reduced their price objective on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 target price on shares of C3.ai in a report on Thursday, September 5th. Bank of America lowered their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Finally, Canaccord Genuity Group cut their price objective on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.70.

C3.ai Price Performance

Shares of NYSE:AI opened at $27.79 on Tuesday. C3.ai has a 1 year low of $18.85 and a 1 year high of $38.30. The stock’s 50-day moving average is $24.56 and its 200 day moving average is $25.91. The company has a market cap of $3.53 billion, a PE ratio of -12.19 and a beta of 1.80.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.56) EPS. Analysts expect that C3.ai will post -2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AI. Global Assets Advisory LLC bought a new position in shares of C3.ai during the 3rd quarter valued at approximately $743,000. International Assets Investment Management LLC purchased a new position in shares of C3.ai in the 3rd quarter worth $10,560,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of C3.ai during the 2nd quarter valued at about $3,465,000. EverSource Wealth Advisors LLC grew its position in C3.ai by 4,860.6% in the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock worth $865,000 after acquiring an additional 31,302 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in C3.ai during the second quarter valued at approximately $1,071,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.