C3.ai Inc. [NYSE: AI] jumped around 0.65 points on Wednesday, while shares priced at $57.90 at the close of the session, up 1.14%. The company report on June 17, 2021 that C3 AI and NCS Form Strategic Partnership to Deliver Enterprise AI Applications Across Asia-Pacific.
C3 AI (NYSE:AI), the Enterprise AI application software company, and NCS, a leading technology services provider and member of the Singtel Group, announced a strategic partnership focused on delivering enterprise AI solutions to clients in Southeast Asia (SEA) and Australia/New Zealand (ANZ) across multiple industries, including telecommunications, government, financial services, transportation, and more.
This agreement represents C3 AI’s first strategic partnership with a telecommunications group. NCS will leverage its deep domain experience and technology expertise in serving governments and businesses in SEA and ANZ, investing up to S$10 million to develop and deploy enterprise AI applications created on the C3 AI® Suite. C3 AI’s solutions will also be deployed across Singtel, Optus, and other affiliated telecommunications networks to bring the advantages of enterprise AI to their operations and clients.
C3.ai Inc. stock is now -58.27% down from its year-to-date (YTD) trading value. AI Stock saw the intraday high of $58.75 and lowest of $56.03 per share. The company’s 52-week high price is 183.90, which means current price is +22.62% above from all time high which was touched on 02/10/21.
Compared to the average trading volume of 3.88M shares, AI reached a trading volume of 3386292 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about C3.ai Inc. [AI]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AI shares is $99.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AI stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Needham have made an estimate for C3.ai Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 03, 2021. While these analysts kept the previous recommendation, Wedbush raised their target price to Outperform. The new note on the price target was released on January 04, 2021, representing the official price target for C3.ai Inc. stock. Previously, the target price had yet another raise to $166, while Piper Sandler analysts kept a Overweight rating on AI stock.
The Average True Range (ATR) for C3.ai Inc. is set at 4.60, with the Price to Sales ratio for AI stock in the period of the last 12 months amounting to 30.60. The Price to Book ratio for the last quarter was 5.44, with the Price to Cash per share for the same quarter was set at 11.60.
How has AI stock performed recently?
C3.ai Inc. [AI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.76. With this latest performance, AI shares gained by 8.73% in over the last four-week period, additionally sinking by -43.43% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AI stock in for the last two-week period is set at 44.79, with the RSI for the last a single of trading hit 42.70, and the three-weeks RSI is set at 44.95 for C3.ai Inc. [AI]. The present Moving Average for the last 50 days of trading for this stock 61.81, while it was recorded at 58.76 for the last single week of trading.
C3.ai Inc. [AI]: Deeper insight into the fundamentals
C3.ai Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.20 and a Current Ratio set at 11.20.
Earnings analysis for C3.ai Inc. [AI]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for C3.ai Inc. go to -13.02%.
Insider trade positions for C3.ai Inc. [AI]
There are presently around $2,702 million, or 48.30% of AI stock, in the hands of institutional investors. The top three institutional holders of AI stocks are: TPG GROUP HOLDINGS (SBS) ADVISORS, INC. with ownership of 13,595,656, which is approximately -16.111% of the company’s market cap and around 14.00% of the total institutional ownership; BAKER HUGHES HOLDINGS LLC, holding 10,813,095 shares of the stock with an approximate value of $626.08 million in AI stocks shares; and BLACKROCK INC., currently with $268.15 million in AI stock with ownership of nearly 4.703% of the company’s market capitalization.
163 institutional holders increased their position in C3.ai Inc. [NYSE:AI] by around 10,953,054 shares. Additionally, 78 investors decreased positions by around 6,957,234 shares, while 11 investors held positions by with 28,749,741 shares. The mentioned changes placed institutional holdings at 46,660,029 shares, according to the latest SEC report filing. AI stock had 103 new institutional investments in for a total of 6,536,062 shares, while 56 institutional investors sold positions of 2,604,937 shares during the same period.