C3.ai (NYSE:AI) Stock Price Down 0.3%

C3.ai, Inc. (NYSE:AI)’s stock price traded down 0.3% during trading on Wednesday . The stock traded as low as $26.77 and last traded at $26.99. 1,234,526 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 8,016,329 shares. The stock had previously closed at $27.06.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler increased their price objective on shares of C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Canaccord Genuity Group raised their price target on shares of C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Wedbush dropped their price target on shares of C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Bank of America raised their price target on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Finally, DA Davidson decreased their price objective on shares of C3.ai from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, December 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.91.

C3.ai Stock Performance

The stock has a 50-day simple moving average of $28.36 and a two-hundred day simple moving average of $27.65.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.13. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. The business had revenue of $78.40 million for the quarter, compared to the consensus estimate of $75.92 million. As a group, equities research analysts forecast that C3.ai, Inc. will post -2.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Armstrong Advisory Group Inc. grew its stake in shares of C3.ai by 375.7% during the third quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock valued at $25,000 after buying an additional 789 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of C3.ai in the third quarter worth about $25,000. Lazard Asset Management LLC grew its stake in shares of C3.ai by 117.7% in the third quarter. Lazard Asset Management LLC now owns 986 shares of the company’s stock worth $25,000 after purchasing an additional 533 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of C3.ai in the first quarter worth about $25,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of C3.ai in the second quarter worth about $25,000. 38.96% of the stock is owned by 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.