C3.ai (NYSE:AI) Given New $18.00 Price Target at DA Davidson

C3.ai (NYSE:AI) had its price objective lowered by DA Davidson from $25.00 to $18.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group cut their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their price target on C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. KeyCorp cut their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price objective on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.75.

C3.ai Stock Down 2.9 %

AI opened at $20.00 on Monday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -9.05 and a beta of 2.01. The business’s 50 day moving average is $24.33 and its two-hundred day moving average is $29.08. C3.ai has a 52 week low of $17.03 and a 52 week high of $45.08.

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

Insider Buying and Selling

In related news, VP Merel Witteveen sold 1,133 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the sale, the vice president now directly owns 7,287 shares of the company’s stock, valued at approximately $162,135.75. This represents a 13.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,336,968 shares in the company, valued at $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,076,982 shares of company stock valued at $29,715,097 over the last three months. Company insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Brown Lisle Cummings Inc. boosted its position in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after buying an additional 456 shares during the period. Legal & General Group Plc grew its holdings in shares of C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock worth $4,102,000 after purchasing an additional 517 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after purchasing an additional 555 shares during the period. Finally, Corient Private Wealth LLC raised its stake in shares of C3.ai by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock valued at $805,000 after purchasing an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.