C3.ai, Inc. (NYSE:AI) Receives $29.91 Consensus Target Price from Analysts

Shares of C3.ai, Inc. (NYSE:AI) have been given a consensus rating of “Hold” by the ten analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $29.91.

A number of equities analysts have issued reports on the company. Wedbush decreased their price objective on C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Canaccord Genuity Group increased their price objective on C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Piper Sandler increased their target price 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, Bank of America increased their target price on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th.

Hedge Funds Weigh In On C3.ai

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of C3.ai by 3.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 65,166 shares of the company’s stock worth $1,764,000 after purchasing an additional 2,341 shares during the period. PFG Investments LLC purchased a new position in shares of C3.ai in the 1st quarter worth approximately $330,000. Raymond James & Associates boosted its holdings in C3.ai by 0.6% during the 1st quarter. Raymond James & Associates now owns 180,509 shares of the company’s stock valued at $4,886,000 after acquiring an additional 1,088 shares during the period. Toth Financial Advisory Corp boosted its holdings in 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 period. Finally, Kingswood Wealth Advisors LLC purchased a new position in C3.ai during the 1st quarter valued at $275,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

Shares of AI stock opened at $21.58 on Thursday. C3.ai has a fifty-two week low of $16.79 and a fifty-two week high of $48.87. The stock has a 50 day moving average price of $27.50 and a two-hundred day moving average price of $27.39. The company has a market capitalization of $2.63 billion, a P/E ratio of -9.26 and a beta of 1.71.

C3.ai (NYSE:AI) last announced 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. The company had revenue of $78.40 million during the quarter, compared to the consensus estimate of $75.92 million. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. As a group, equities analysts predict that C3.ai will post -2.48 earnings per share for the current year.

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.