The price of C3.ai Inc. (NYSE:AI) shares last traded on Wall Street rose 1.24% to $35.90.
Based on available information, 13 analysts follow C3.ai Inc. (NYSE:AI). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $14.00, we find $23.50. Given the previous closing price of $35.46, this indicates a potential downside of -33.73 percent. AI stock price is now 24.96% away from the 50-day moving average and 82.38% away from the 200-day moving average. The market capitalization of the company currently stands at $4.27B.
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Among analysts, 7 rate the stock a hold while 2 rate it a buy. Brokers who have rated the stock have averaged $25.70 as their price target over the next twelve months.
In other news, Parkkinen Juho, SVP & Chief Financial Officer sold 4,220 shares of the company’s stock on Jun 29. The stock was sold for $152,426 at an average price of $36.12. Upon completion of the transaction, the SVP & Chief Financial Officer now directly owns 314,353 shares in the company, valued at $11.29 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 27, Chief Technology Officer ABBO EDWARD Y sold 457,585 shares of the business’s stock. A total of $15,082,002 was realized by selling the stock at an average price of $32.96. This leaves the insider owning 650,777 shares of the company worth $23.36 million. Insiders disposed of 1,041,897 shares of company stock worth roughly $37.4 million over the past 1 year. A total of 3.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AI stock. A new stake in C3.ai Inc. shares was purchased by COATUE MANAGEMENT LLC during the first quarter worth $53,850,000. LORD, ABBETT & CO. LLC invested $48,643,000 in shares of AI during the first quarter. In the first quarter, FRONTIER CAPITAL MANAGEMENT CO LLC acquired a new stake in C3.ai Inc. valued at approximately $35,908,000. EAGLE ASSET MANAGEMENT INC acquired a new stake in AI for approximately $17,807,000. EVR RESEARCH LP purchased a new stake in AI valued at around $15,437,000 in the second quarter. In total, there are 322 active investors with 44.30% ownership of the company’s stock.
A candlestick chart of C3.ai Inc. (NYSE: AI) showed a price of $36.17 on Thursday morning. During the past 12 months, C3.ai Inc. has had a low of $10.16 and a high of $48.87. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 7.70, and a quick ratio of 7.70. The fifty day moving average price for AI is $28.73 and a two-hundred day moving average price translates $19.68 for the stock.
The latest earnings results from C3.ai Inc. (NYSE: AI) was released for Apr, 2023. According to the Software – Application Company, earnings per share came in at -$0.13, beating analysts’ expectations of -$0.17 by 0.04. This compares to -$0.55 EPS in the same period last year. The net profit margin was -89.40% and return on equity was -24.70% for AI. The company reported revenue of $72.41 million for the quarter, compared to $72.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.13 percent. For the current quarter, analysts expect AI to generate $71.55M in revenue.
C3.ai Inc.(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. It also offers C3 AI applications, including C3 AI Inventory Optimization, a solution to optimize raw material, in-process, and finished goods inventory levels; C3 AI Supply Network Risk, which identifies emerging inbound and outbound risks across the network; C3 AI Sustainability Suite, which helps to decrease greenhouse gas emission; C3 AI Production Schedule Optimization, a solution for scheduling production; C3 AI Financial Services Suite, which helps to minimize compliance risks; and C3 AI Energy Management solution. In addition, it offers integrated turnkey enterprise AI applications for oil and gas, chemicals, utilities, manufacturing, financial services, defense, intelligence, aerospace, healthcare, and telecommunications market. It has strategic partnerships with Baker Hughes in the areas of oil and gas market; Booz Allen to provide solutions to government, defense, and intelligence sectors; Raytheon; and AWS, Google, and Microsoft. The company was formerly known as C3 IoT, Inc. and changed its name to C3.ai, Inc. in June 2019. C3.ai, Inc. was incorporated in 2009 and is headquartered in Redwood City, California.
