C3.ai (NYSE:AI) Stock Price Up 1.2%

C3.ai, Inc. (NYSE:AI)’s stock price traded up 1.2% on Friday . The company traded as high as $27.70 and last traded at $27.17. 720,072 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 6,289,429 shares. The stock had previously closed at $26.84.

Wall Street Analyst Weigh In

AI has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Thursday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and set a $40.00 price target on shares of C3.ai in a research report on Wednesday, May 29th. Finally, Morgan Stanley upped their price objective on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.33.

C3.ai Price Performance

The firm has a market cap of $3.47 billion, a P/E ratio of -11.61 and a beta of 1.83. The firm’s 50-day moving average price is $28.33 and its 200 day moving average price is $27.11.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.18. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The company had revenue of $86.59 million for the quarter, compared to analysts’ expectations of $84.45 million. Analysts forecast that C3.ai, Inc. will post -2.35 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the sale, the chief financial officer now owns 7,390 shares of the company’s stock, valued at approximately $203,668.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 34.00% of the stock is currently owned by insiders.

Institutional Trading of C3.ai

Hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC lifted its holdings in shares of C3.ai by 6.2% in the first quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock valued at $277,000 after buying an additional 600 shares during the period. Blue Trust Inc. lifted its holdings in C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares during the last quarter. EWG Elevate Inc. boosted its position in shares of C3.ai by 7.5% during the 1st quarter. EWG Elevate Inc. now owns 9,538 shares of the company’s stock valued at $258,000 after purchasing an additional 662 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of C3.ai by 2.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 28,478 shares of the company’s stock worth $818,000 after purchasing an additional 811 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its holdings in shares of C3.ai by 900.0% in the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares in the last quarter. 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.