AI - Down 3.7% So Far Is C3.ai on Track for a Better Performance in the Second Half of 2024?
2024-07-26 04:55:00 ET
Simply being involved with artificial intelligence (AI) doesn't mean a stock is due for a big year on the markets. Even though C3.ai (NYSE: AI) has "AI" as its ticker symbol, the stock has been anything but a hot AI stock to own this year. Not only is it lagging the S&P 500 's impressive 15% gains in 2024, but C3.ai is down around 3.7% since the start of the year.
The good news for investors is that this enterprise AI software provider has shown significant improvement in recent months, largely tied to improved performance in its most recently reported quarter. Could C3.ai stock be due for a much better performance in the second half of 2024, and is now a good time to invest in it?
A key reason C3.ai has struggled this year is that up until recently, it didn't show much of a boost due to its AI offerings. Although company CEO Thoms Siebel often talks up the company's opportunities and its easy turnkey solutions, the numbers simply haven't supported that optimism. On a quarter-over-quarter basis, the company has often generated minimal revenue growth, and in some cases, it has even been negative.
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Down 3.7% So Far, Is C3.ai on Track for a Better Performance in the Second Half of 2024?