Analysts Set C3.ai, Inc. (NYSE:AI) Price Target at $30.33

C3.ai, Inc. (NYSE:AI) has been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the company, MarketBeat reports. Two 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. The average 12 month target price among brokerages that have covered the stock in the last year is $30.33.

AI has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research report on Wednesday, May 29th. Northland Capmk upgraded shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Northland Securities upgraded shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research report on Thursday, May 30th. Piper Sandler cut their price objective on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group lowered their target price on C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th.

C3.ai Stock Up 1.7 %

Shares of AI stock opened at $24.52 on Wednesday. The firm has a market capitalization of $3.06 billion, a PE ratio of -10.48 and a beta of 1.83. The company has a 50 day moving average price of $27.20 and a 200-day moving average price of $27.03. C3.ai has a 52 week low of $20.23 and a 52 week high of $38.30.

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

Insiders Place Their Bets

In related news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 34.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On C3.ai

Several institutional investors have recently bought and sold shares of AI. Toth Financial Advisory Corp raised its holdings in shares of C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 900 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of C3.ai in the 2nd quarter worth approximately $28,000. Blue Trust Inc. raised its holdings in C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after buying an additional 615 shares during the period. ICA Group Wealth Management LLC purchased a new stake in C3.ai in the 4th quarter worth about $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of C3.ai during the 2nd quarter worth approximately $29,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.