C3.ai (NYSE:AI – Get Rating) is set to post its quarterly earnings results after the market closes on Wednesday, December 7th. Analysts expect C3.ai to post earnings of ($0.16) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.
C3.ai (NYSE:AI – Get Rating) last released its quarterly earnings results on Wednesday, August 31st. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.11). C3.ai had a negative return on equity of 19.23% and a negative net margin of 85.25%. The firm had revenue of $65.31 million during the quarter, compared to analysts’ expectations of $66.02 million. During the same period in the prior year, the firm posted ($0.23) earnings per share. C3.ai’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, analysts expect C3.ai to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.
C3.ai Trading Down 1.1 %
NYSE AI opened at $12.25 on Wednesday. The firm’s fifty day simple moving average is $12.77 and its two-hundred day simple moving average is $16.43. C3.ai has a 12-month low of $11.29 and a 12-month high of $39.36. The firm has a market capitalization of $1.33 billion, a P/E ratio of -5.70 and a beta of 0.82.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Ancora Advisors LLC raised its position in shares of C3.ai by 218.8% in the first quarter. Ancora Advisors LLC now owns 1,100 shares of the company’s stock worth $73,000 after acquiring an additional 755 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of C3.ai in the second quarter worth about $25,000. Canada Pension Plan Investment Board raised its position in shares of C3.ai by 755.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,472 shares of the company’s stock worth $34,000 after acquiring an additional 1,300 shares during the period. MetLife Investment Management LLC acquired a new position in shares of C3.ai in the first quarter worth about $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of C3.ai by 45.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,825 shares of the company’s stock worth $161,000 after acquiring an additional 2,745 shares during the period. Institutional investors and hedge funds own 44.34% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. UBS Group cut their price target on shares of C3.ai from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, September 1st. Canaccord Genuity Group assumed coverage on shares of C3.ai in a report on Tuesday, October 11th. They issued a “hold” rating and a $14.00 price target on the stock. Needham & Company LLC lowered shares of C3.ai from a “buy” rating to a “hold” rating in a report on Friday, September 2nd. Wolfe Research assumed coverage on shares of C3.ai in a report on Tuesday, August 16th. They issued a “market perform” rating on the stock. Finally, JMP Securities cut their price target on shares of C3.ai from $28.00 to $25.00 and set a “market outperform” rating on the stock in a report on Thursday, September 1st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.20.
C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.
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