C3.ai (NYSE:AI) Price Target Lowered to $17.00 at KeyCorp

C3.ai (NYSE:AI) had its target price cut by KeyCorp from $21.00 to $17.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Piper Sandler lowered their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group cut their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Morgan Stanley lowered their price objective on C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, DA Davidson cut their target price on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, C3.ai has an average rating of “Hold” and an average price target of $29.58.

C3.ai Trading Up 0.2 %

Shares of C3.ai stock opened at $19.38 on Thursday. The business’s fifty day simple moving average is $23.46 and its 200 day simple moving average is $28.92. C3.ai has a 12 month low of $17.03 and a 12 month high of $45.08. The firm has a market capitalization of $2.57 billion, a P/E ratio of -8.77 and a beta of 2.01.

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

Insiders Place Their Bets

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard C. Levin sold 12,000 shares of C3.ai stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the sale, the director now owns 161,664 shares of the company’s stock, valued at approximately $4,824,053.76. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,446,967 shares of company stock worth $37,175,326 in the last three months. 33.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On C3.ai

Institutional investors have recently made changes to their positions in the stock. Brown Lisle Cummings Inc. grew its position in C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock valued at $4,102,000 after buying an additional 517 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after buying an additional 555 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in C3.ai by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock worth $805,000 after buying an additional 555 shares in the last quarter. 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.