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

C3.ai (NYSE:AI) was upgraded by research analysts at StockNews.com to a “sell” rating in a report issued on Tuesday.

A number of other research firms also recently commented on AI. Morgan Stanley cut their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of C3.ai in a research report on Thursday, September 5th. DA Davidson dropped their price target on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Piper Sandler Companies reiterated a “neutral” rating and set a $24.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Finally, Wedbush dropped their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, C3.ai presently has an average rating of “Hold” and a consensus target price of $27.70.

C3.ai Stock Performance

Shares of AI traded down $0.40 on Tuesday, hitting $27.79. 2,840,055 shares of the stock traded hands, compared to its average volume of 5,368,917. The company has a market capitalization of $3.53 billion, a PE ratio of -12.19 and a beta of 1.80. The business has a 50 day simple moving average of $24.56 and a 200 day simple moving average of $25.91. C3.ai has a one year low of $18.85 and a one year high of $38.30.

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

Institutional Trading of C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of AI. Vanguard Group Inc. increased its holdings in shares of C3.ai by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock worth $288,239,000 after buying an additional 317,768 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of C3.ai by 12.3% in 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. Bank of New York Mellon Corp grew its holdings in C3.ai by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after purchasing an additional 1,929 shares during the last quarter. Raymond James & Associates grew its holdings in C3.ai by 11.5% during the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock valued at $5,829,000 after purchasing an additional 20,753 shares during the last quarter. Finally, Swiss National Bank grew its holdings in C3.ai by 1.6% during the 1st quarter. Swiss National Bank now owns 195,200 shares of the company’s stock valued at $5,284,000 after purchasing an additional 3,000 shares during the last quarter. 38.96% of the stock is currently owned by 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.