Morgan Stanley Issues Positive Forecast for C3.ai (NYSE:AI) Stock Price

C3.ai (NYSE:AI) had its price target upped by equities research analysts at Morgan Stanley from $21.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 23.46% from the stock’s current price.

Several other equities research analysts also recently commented on the company. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. StockNews.com upgraded C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Wedbush lowered their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, Northland Securities upped their target price on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.10.

C3.ai Trading Up 3.2 %

Shares of AI stock opened at $41.81 on Tuesday. C3.ai has a 12 month low of $18.85 and a 12 month high of $42.94. The stock has a market cap of $5.31 billion, a PE ratio of -18.34 and a beta of 1.99. The company’s fifty day moving average price is $29.09 and its 200-day moving average price is $27.27.

Hedge Funds Weigh In On C3.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank boosted its holdings in shares of C3.ai by 305.1% in the 1st quarter. Comerica Bank now owns 1,203 shares of the company’s stock valued at $33,000 after buying an additional 906 shares in the last quarter. Cetera Advisors LLC purchased a new position in C3.ai in the first quarter worth $465,000. ORG Partners LLC increased its position in shares of C3.ai by 3,969.7% during the second quarter. ORG Partners LLC now owns 4,436 shares of the company’s stock worth $127,000 after purchasing an additional 4,327 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after purchasing an additional 615 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of C3.ai by 11.5% in the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock worth $5,829,000 after purchasing an additional 20,753 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

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.