2023-11-30 15:04:12 ET
C3.ai ( NYSE: AI ) is on track to snap its six consecutive sessions of gains as the stock fell nearly 3% in afternoon trading on Thursday. C3.ai traded in the narrow range and gained 6% in the preceding six sessions.
The enterprise software company, which is set to report its second quarter earnings on December 6, was trading at $29.11.
The stock went up near 8% in mid-day trading on Nov. 20 before giving up all its gains amid the occurrences regarding ouster of Sam Altman from OpenAI and his return to the same company as CEO.
C3.ai has more than doubled in value so far this year, suggesting investors’ appetite for artificial intelligence stocks.
However, analysts are still conservative on the stock. Looking at Seeking Alpha's Quant Rating, C3.ai has a Hold rating with a score of 3.08 out of 5. The California-based company receives an A- for momentum and a B+ for growth, while its profitability prospect has been graded a D-.
Turning to the Wall Street community, three analysts give AI a Buy and above, while seven rated it a Hold. One analyst gave it a Sell recommendation and three analysts have suggested Strong Sell.
Seeking Alpha analysts also see the stock as Hold, with a score of 3.
“Based on it not being profitable yet, and based on the growth rate that is appealing but not ultra-strong, I do not believe that C3.ai is a must-own stock,” believes Seeking Alpha analyst Jonathan Weber.
More on C3.ai
- What's The Outlook For C3.Ai Ahead Of Earnings?
- C3.ai: On The Verge Of A Massive Recovery (Rating Upgrade)
- C3.ai gains as Oppenheimer upgrades on 'accelerating growth,' margin expansion
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C3.ai stock on track to snap its six-day gaining streak