C3.ai (NYSE:AI) Earns “Hold” Rating from Needham & Company LLC

C3.ai (NYSE:AI)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

AI has been the subject of several other research reports. Piper Sandler raised their target price on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group lifted their target price on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. DA Davidson upgraded C3.ai to a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Wednesday, December 11th. Finally, StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.33.

C3.ai Trading Down 1.8 %

AI stock opened at $23.44 on Thursday. C3.ai has a one year low of $18.85 and a one year high of $45.08. The firm has a 50-day moving average of $32.39 and a two-hundred day moving average of $29.54. The firm has a market capitalization of $3.03 billion, a PE ratio of -10.61 and a beta of 1.98.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The firm had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. On average, equities research analysts anticipate that C3.ai will post -2.44 earnings per share for the current year.

Insider Activity

In other news, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $430,500. This represents a 98.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas M. Siebel sold 552,422 shares of the firm’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 value of $18,252,022.88. Following the completion of 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. In the last 90 days, insiders have sold 1,643,311 shares of company stock worth $59,736,620. 33.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On C3.ai

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