C3.ai (NYSE:AI) Stock Rating Reaffirmed by Oppenheimer

C3.ai (NYSE:AI)‘s stock had its “outperform” rating restated by stock analysts at Oppenheimer in a note issued to investors on Thursday, Benzinga reports. They currently have a $40.00 price objective on the stock. Oppenheimer’s price target would suggest a potential upside of 98.22% from the stock’s previous close.

Several other research analysts have also commented on AI. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research report on Thursday, May 30th. Canaccord Genuity Group reduced their target price on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday. Piper Sandler decreased their price target on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley cut their price objective on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.70.

C3.ai Stock Performance

AI traded down $2.83 during trading on Thursday, hitting $20.18. 18,942,010 shares of the stock were exchanged, compared to its average volume of 5,912,370. The firm has a 50 day simple moving average of $26.46 and a 200 day simple moving average of $26.73. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -8.62 and a beta of 1.83. C3.ai has a 1 year low of $18.85 and a 1 year high of $38.30.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm earned ($0.56) earnings per share. As a group, equities analysts anticipate that C3.ai will post -2.35 earnings per share for the current fiscal year.

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $27.56, for a total transaction of $82,817.80. Following the completion of the sale, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 34.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Toth Financial Advisory Corp boosted its holdings in C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 900 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in C3.ai in the second quarter valued at approximately $28,000. Blue Trust Inc. increased its position in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after buying an additional 615 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of C3.ai during the 4th quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of C3.ai during the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.