Why Should You Invest In C3.ai Inc (NYSE: AI)?

In the latest trading session, 3.54 million C3.ai Inc (NYSE:AI) shares changed hands as the company’s beta touched 1.62. With the company’s most recent per share price at $30.93 changing hands around $1.62 or 5.53% at last look, the market valuation stands at $3.66B. AI’s current price is a discount, trading about -58.0% off its 52-week high of $48.87. The share price had its 52-week low at $10.16, which suggests the last value was 67.15% up since then. When we look at C3.ai Inc’s average trading volume, we note the 10-day average is 6.77 million shares, with the 3-month average coming to 8.02 million.

Analysts gave the C3.ai Inc (AI) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.21. If we narrow down to specifics, the data shows that 3 out of 14 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 8 recommended AI as a Hold, 2 felt it is a Buy and 1 rated the stock as Underweight. C3.ai Inc’s EPS for the current quarter is expected to be -$0.18.

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C3.ai Inc (NYSE:AI) trade information

Instantly AI is in green as seen in intraday trades today. With action 12.07%, the performance over the past five days has been green. The jump to weekly highs of 31.83 on Friday, 11/17/23 added 5.53% to the stock’s daily price. The company’s shares are showing year-to-date upside of 176.42%, with the 5-day performance at 12.07% in the green. However, in the 30-day time frame, C3.ai Inc (NYSE:AI) is 27.24% up. Looking at the short shares, we see there were 36.32 million shares sold at short interest cover period of 6.27 days.

The consensus price target for the stock as assigned by Wall Street analysts is $26.09, meaning bulls need a downside of -18.55% from its recent market value. According to analyst projections, AI’s forecast low is $14.00 with $42.00 as the target high. To hit the forecast high, the stock’s price needs a -35.79% plunge from its current level, while the stock would need to tank 54.74% for it to hit the projected low.

C3.ai Inc (AI) estimates and forecasts

Data shows that the C3.ai Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 10.99% over the past 6 months, a 0.00% in annual growth rate that is considerably lower than the industry average of 3.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for C3.ai Inc will fall -63.60%, while the growth in revenue is estimated to hit -66.70% for the next quarter. Year-over-year growth is forecast to reach 15.40% up from the last financial year.

Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $74.33 million. 13 analysts are of the opinion that C3.ai Inc’s revenue for the quarter ending Jan 2024 will be $77.68 million.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -62.57%. The 2023 estimates are for C3.ai Inc earnings to decrease by -2.89%.

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C3.ai Inc is expected to release its next quarterly earnings report between December 05 and December 11.

C3.ai Inc (NYSE:AI)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 10.47% of C3.ai Inc shares while 47.52% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 53.07%. There are 47.52% institutions holding the C3.ai Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.56% of the shares, roughly 9.82 million AI shares worth $357.65 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.31% or 4.95 million shares worth $180.24 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 2.99 million shares estimated at $108.97 million under it, the former controlled 2.61% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.20% of the shares, roughly 2.53 million shares worth around $92.02 million.

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