C3.ai (NYSE:AI) Given New $30.00 Price Target at Canaccord Genuity Group

C3.ai (NYSE:AIFree Report) had its target price decreased by Canaccord Genuity Group from $31.00 to $30.00 in a research report report published on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler raised their price objective on C3.ai from $27.00 to $33.00 and gave the company a neutral rating in a report on Monday, March 4th. Wedbush cut their target price on C3.ai from $42.00 to $35.00 and set an overweight rating on the stock in a report on Thursday, February 29th. Needham & Company LLC reissued a hold rating on shares of C3.ai in a research report on Thursday. Bank of America lifted their price objective on C3.ai from $18.00 to $20.00 and gave the stock an underperform rating in a research report on Thursday, February 29th. Finally, Northland Securities raised C3.ai from a market perform rating to an outperform rating and set a $35.00 price objective for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, C3.ai currently has a consensus rating of Hold and a consensus target price of $31.30.

Read Our Latest Research Report on C3.ai

C3.ai Stock Performance

Shares of AI stock opened at $29.57 on Thursday. The stock’s fifty day moving average price is $24.44 and its two-hundred day moving average price is $27.12. The company has a market cap of $3.61 billion, a PE ratio of -12.64 and a beta of 1.74. C3.ai has a fifty-two week low of $20.23 and a fifty-two week high of $48.87.

C3.ai (NYSE:AIGet Free Report) last issued its 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. The firm had revenue of $78.40 million for the quarter, compared to the consensus estimate of $75.92 million. C3.ai had a negative return on equity of 30.60% and a negative net margin of 93.36%. On average, equities analysts predict that C3.ai will post -2.19 EPS for the current fiscal year.

Institutional Trading of C3.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in C3.ai during the 1st quarter valued at about $38,000. Cetera Advisors LLC acquired a new position in C3.ai during the 1st quarter valued at about $465,000. Virtu Financial LLC boosted its stake in C3.ai by 541.6% during the 1st quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock valued at $2,943,000 after purchasing an additional 91,774 shares during the last quarter. Montchanin Asset Management LLC acquired a new position in C3.ai during the 1st quarter valued at about $297,000. Finally, Comerica Bank boosted its stake in C3.ai by 305.1% during the 1st quarter. Comerica Bank now owns 1,203 shares of the company’s stock valued at $33,000 after purchasing an additional 906 shares during the last quarter. 38.96% of the stock is owned by institutional investors.

About C3.ai

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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.

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