KeyCorp Lowers C3.ai (NYSE:AI) Price Target to $17.00

C3.ai (NYSE:AI) had its price objective lowered by KeyCorp from $21.00 to $17.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

AI has been the subject of several other research reports. Piper Sandler decreased their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. DA Davidson decreased their target price on C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Morgan Stanley lowered their price objective on C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group cut their price objective on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Five equities research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.58.

C3.ai Stock Up 0.2 %

Shares of AI stock opened at $19.38 on Thursday. The firm has a market capitalization of $2.57 billion, a P/E ratio of -8.77 and a beta of 2.01. C3.ai has a twelve month low of $17.03 and a twelve month high of $45.08. The stock’s fifty day simple moving average is $23.20 and its 200 day simple moving average is $28.94.

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

Insider Buying and Selling

In related news, CEO Thomas M. Siebel sold 13,567 shares of the company’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the transaction, the chief executive officer now owns 1,336,968 shares in the company, valued at $44,173,422.72. The trade was a 29.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,446,967 shares of company stock worth $37,175,326 in the last 90 days. 33.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in C3.ai by 149.2% during the 3rd quarter. FMR LLC now owns 13,994 shares of the company’s stock valued at $339,000 after acquiring an additional 8,378 shares in the last quarter. State Street Corp raised its stake in C3.ai by 1.8% during the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after buying an additional 38,185 shares during the last quarter. Geode Capital Management LLC boosted its holdings in C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after acquiring an additional 178,870 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of C3.ai by 28.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company’s stock worth $496,000 after acquiring an additional 3,161 shares during the last quarter. Finally, TT International Asset Management LTD purchased a new position in shares of C3.ai in the 4th quarter worth about $482,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.