KeyCorp Has Lowered Expectations for C3.ai (NYSE:AI) Stock Price

C3.ai (NYSE:AI) had its price objective lowered by analysts at KeyCorp from $29.00 to $21.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. KeyCorp’s price target would suggest a potential downside of 10.42% from the company’s previous close.

AI has been the topic of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday. DA Davidson raised C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley lowered their target price on C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday. Northland Securities boosted their price target on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.33.

C3.ai Price Performance

Shares of AI opened at $23.44 on Thursday. The firm has a market cap of $3.03 billion, a P/E ratio of -10.61 and a beta of 1.98. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08. The company has a 50 day simple moving average of $32.39 and a two-hundred day simple moving average of $29.54.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million for 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%. On average, sell-side analysts anticipate that C3.ai will post -2.44 earnings per share for the current year.

Insider Activity at C3.ai

In related news, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the transaction, the director now owns 161,664 shares in the company, valued at $4,824,053.76. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the sale, the chief financial officer now owns 851 shares in the company, valued at approximately $35,742. The trade was a 93.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,643,311 shares of company stock worth $59,736,620. Insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

A number of large investors have recently made changes to their positions in AI. Vanguard Group Inc. increased its stake in C3.ai by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after buying an additional 446,529 shares during the period. Geode Capital Management LLC grew its stake in C3.ai by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company’s stock worth $87,128,000 after acquiring an additional 313,066 shares in the last quarter. State Street Corp increased its position in shares of C3.ai by 1.8% during the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after acquiring an additional 38,185 shares during the period. Two Sigma Investments LP purchased a new position in shares of C3.ai during the fourth quarter worth approximately $42,306,000. Finally, Man Group plc bought a new stake in shares of C3.ai during the fourth quarter valued at approximately $38,455,000. 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.