C3.ai (NYSE:AI) Price Target Cut to $25.00 by Analysts at DA Davidson

C3.ai (NYSE:AI) had its target price decreased by DA Davidson from $40.00 to $25.00 in a research report sent to investors on Thursday morning,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Piper Sandler dropped their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. JMP Securities increased their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Morgan Stanley dropped their price objective on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday. Five investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.33.

C3.ai Stock Performance

Shares of AI opened at $23.80 on Thursday. The firm has a market cap of $3.07 billion, a P/E ratio of -10.77 and a beta of 1.98. The business has a 50-day moving average of $32.65 and a 200 day moving average of $29.55. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

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

Insider Buying and Selling

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the completion of the transaction, the chief financial officer now owns 851 shares of the company’s stock, valued at $35,742. This trade represents a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock valued at $59,736,620 over the last ninety days. 33.54% of the stock is owned by insiders.

Institutional Investors Weigh In On C3.ai

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AI. Two Sigma Investments LP bought a new stake in C3.ai during the fourth quarter worth about $42,306,000. Man Group plc bought a new stake in shares of C3.ai in the 4th quarter worth approximately $38,455,000. Two Sigma Advisers LP bought a new stake in shares of C3.ai in the 4th quarter worth approximately $30,725,000. Renaissance Technologies LLC grew its stake in shares of C3.ai by 1,242.5% in the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after buying an additional 664,731 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock valued at $445,385,000 after buying an additional 446,529 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other 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.