DA Davidson Trims C3.ai (NYSE:AI) Target Price to $20.00

C3.ai (NYSE:AI) had its target price cut by DA Davidson from $30.00 to $20.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. Northland Capmk upgraded shares of C3.ai from a hold rating to a strong-buy rating in a report on Thursday, May 30th. Canaccord Genuity Group lowered their price objective on shares of C3.ai from $31.00 to $30.00 and set a hold rating on the stock in a research note on Thursday, May 30th. Piper Sandler Companies reaffirmed a neutral rating and set a $24.00 target price on shares of C3.ai in a report on Thursday. Morgan Stanley reduced their target price on shares of C3.ai from $23.00 to $21.00 and set an underweight rating for the company in a report on Thursday. Finally, Piper Sandler cut their price objective on shares of C3.ai from $29.00 to $24.00 and set a neutral rating for the company in a report on Thursday. Three 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, the stock has an average rating of Hold and an average price target of $27.70.

C3.ai Stock Performance

NYSE:AI opened at $21.30 on Thursday. C3.ai has a 52-week low of $18.85 and a 52-week high of $38.30. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -9.10 and a beta of 1.81. The firm’s 50-day moving average is $26.16 and its 200-day moving average is $26.64.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The business had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. During the same period in the prior year, the firm earned ($0.56) earnings per share. C3.ai’s revenue was up 20.5% compared to the same quarter last year. Equities analysts predict that C3.ai will post -2.35 EPS for the current year.

Insider Buying and Selling at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the transaction, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently bought and sold shares of AI. Toth Financial Advisory Corp boosted its position in shares of C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 900 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. Blue Trust Inc. boosted its position in C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after purchasing an additional 615 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of C3.ai during the 4th quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in C3.ai in the 2nd quarter valued at $29,000. Institutional investors own 38.96% of the company’s stock.

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.