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

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

Wall Street Analyst Weigh In

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

C3.ai Stock Performance

The firm’s 50 day moving average is $28.36 and its two-hundred day moving average is $27.65.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.13. C3.ai had a negative net margin of 95.21% and a negative return on equity of 29.60%. The business had revenue of $78.40 million for the quarter, compared to analyst estimates of $75.92 million. Analysts expect that C3.ai, Inc. will post -2.48 EPS for the current year.

Institutional Trading of C3.ai

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in C3.ai by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock worth $267,383,000 after purchasing an additional 659,986 shares during the period. Voya Investment Management LLC lifted its position in C3.ai by 23,985.8% in the 4th quarter. Voya Investment Management LLC now owns 5,785,164 shares of the company’s stock worth $166,092,000 after buying an additional 5,761,145 shares in the last quarter. BlackRock Inc. lifted its position in C3.ai by 3.8% in the 3rd quarter. BlackRock Inc. now owns 5,717,608 shares of the company’s stock worth $71,470,000 after buying an additional 208,386 shares in the last quarter. Morgan Stanley lifted its position in C3.ai by 213.5% in the 3rd quarter. Morgan Stanley now owns 4,112,560 shares of the company’s stock worth $104,953,000 after buying an additional 2,800,813 shares in the last quarter. Finally, Coatue Management LLC raised its holdings in shares of C3.ai by 25.1% during the 4th quarter. Coatue Management LLC now owns 2,832,229 shares of the company’s stock valued at $81,313,000 after purchasing an additional 568,369 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

C3.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.