C3.ai (NYSE:AI) PT Lowered to $30.00 at Canaccord Genuity Group

C3.ai (NYSE:AIFree Report) had its price target decreased by Canaccord Genuity Group from $31.00 to $30.00 in a research report report published on Thursday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Several other research analysts also recently issued reports on AI. Northland Securities raised C3.ai from a market perform rating to an outperform rating and set a $35.00 price target for the company in a research note on Thursday. Wedbush cut their price target on C3.ai from $42.00 to $35.00 and set an overweight rating for the company in a research note on Thursday, February 29th. Bank of America lifted their price target on C3.ai from $18.00 to $20.00 and gave the stock an underperform rating in a research note on Thursday, February 29th. Piper Sandler lifted their price target on C3.ai from $27.00 to $33.00 and gave the stock a neutral rating in a research note on Monday, March 4th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of C3.ai in a research note on Thursday. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has a consensus rating of Hold and an average price target of $31.30.

Read Our Latest Research Report on C3.ai

C3.ai Stock Performance

C3.ai stock opened at $29.57 on Thursday. C3.ai has a one year low of $20.23 and a one year high of $48.87. The business has a fifty day moving average of $24.44 and a two-hundred day moving average of $27.12. The company has a market cap of $3.61 billion, a P/E ratio of -12.64 and a beta of 1.74.

C3.ai (NYSE:AIGet Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.13. C3.ai had a negative return on equity of 30.60% and a negative net margin of 93.36%. The company had revenue of $78.40 million during the quarter, compared to the consensus estimate of $75.92 million. Sell-side analysts predict that C3.ai will post -2.19 EPS for the current year.

Institutional Trading of C3.ai

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AI. Private Advisor Group LLC grew its holdings in C3.ai by 48.4% in the 3rd quarter. Private Advisor Group LLC now owns 31,125 shares of the company’s stock valued at $794,000 after buying an additional 10,151 shares during the period. Victory Capital Management Inc. grew its holdings in C3.ai by 14.2% in the 3rd quarter. Victory Capital Management Inc. now owns 10,817 shares of the company’s stock valued at $276,000 after buying an additional 1,348 shares during the period. Arizona State Retirement System grew its holdings in C3.ai by 4.5% in the 3rd quarter. Arizona State Retirement System now owns 27,133 shares of the company’s stock valued at $692,000 after buying an additional 1,179 shares during the period. Hussman Strategic Advisors Inc. grew its holdings in C3.ai by 12.5% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the company’s stock valued at $1,608,000 after buying an additional 7,000 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in C3.ai by 3.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 28,506 shares of the company’s stock valued at $727,000 after buying an additional 968 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About C3.ai

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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.

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Analyst Recommendations for C3.ai (NYSE:AI)

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