Fintel reports that on June 29, 2023, Oppenheimer initiated coverage of C3.ai Inc – (NYSE:AI) with a Perform recommendation.

Analyst Price Forecast Suggests 22.65% Downside

As of June 1, 2023, the average one-year price target for C3.ai Inc – is 27.43. The forecasts range from a low of 14.14 to a high of $52.50. The average price target represents a decrease of 22.65% from its latest reported closing price of 35.46.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for C3.ai Inc – is 269MM, an increase of 0.98%. The projected annual non-GAAP EPS is -0.76.

What is the Fund Sentiment?

There are 479 funds or institutions reporting positions in C3.ai Inc -. This is an increase of 103 owner(s) or 27.39% in the last quarter. Average portfolio weight of all funds dedicated to AI is 0.29%, an increase of 280.61%. Total shares owned by institutions increased in the last three months by 16.32% to 53,239K shares. The put/call ratio of AI is 0.83, indicating a bullish outlook.

What are Other Shareholders Doing?

Baker Hughes Holdings holds 6,920K shares representing 6.17% ownership of the company. In it’s prior filing, the firm reported owning 8,650K shares, representing a decrease of 25.00%.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,958K shares representing 2.64% ownership of the company. In it’s prior filing, the firm reported owning 2,818K shares, representing an increase of 4.72%. The firm increased its portfolio allocation in AI by 190.72% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 2,515K shares representing 2.24% ownership of the company. In it’s prior filing, the firm reported owning 2,434K shares, representing an increase of 3.19%. The firm increased its portfolio allocation in AI by 197.41% over the last quarter.

Voloridge Investment Management holds 1,785K shares representing 1.59% ownership of the company. In it’s prior filing, the firm reported owning 809K shares, representing an increase of 54.68%. The firm increased its portfolio allocation in AI by 490.44% over the last quarter.

Goldman Sachs Group holds 1,571K shares representing 1.40% ownership of the company. In it’s prior filing, the firm reported owning 826K shares, representing an increase of 47.44%. The firm increased its portfolio allocation in AI by 444.31% over the last quarter.

C3.ai Background Information
(This description is provided by the company.)

C3.ai, Inc. is a leading provider of enterprise AI software for accelerating digital transformation. C3 AI delivers a family of fully integrated products: C3 AI® Suite, an end-to-end platform for developing, deploying, and operating large-scale AI applications; C3 AI Applications, a portfolio of industry-specific SaaS AI applications; C3 AI CRM, a suite of industry-specific CRM applications designed for AI and machine learning; and C3 AI Ex Machina, a no-code AI solution to apply data science to everyday business problems. The core of the C3 AI offering is an open, model-driven AI architecture that dramatically simplifies data science and application development.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel

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