Heron Therapeutics enters supply agreement with Patheon and Thermo Fisher
C3.ai (NYSE:AI) Inc’s stock reached a 52-week low, hitting a price of 15.23 USD, marking a significant decline from its 52-week high of 45.08 USD. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value assessment. This milestone comes amid a challenging year for the company, with its stock experiencing a 1-year decline of 11.3% and a steeper six-month drop of 30.8%. The decline reflects broader market trends and investor sentiment surrounding the artificial intelligence sector. InvestingPro data reveals the company maintains strong liquidity with a current ratio of 6.86, though it faces profitability challenges with negative earnings. Despite recent pressures, C3.ai continues to focus on expanding its AI solutions and partnerships to drive future growth, demonstrated by its robust revenue growth of 25.27%. Investors will be closely watching the company’s strategies to navigate current market conditions and regain momentum. For deeper insights into C3.ai’s financial health and growth prospects, access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, C3.ai has released preliminary first-quarter revenue figures ranging between $70.2 million and $70.4 million, which fell short of the company’s guidance midpoint by 33% and marked a 19% decline year-over-year. Following these results, DA Davidson downgraded C3.ai to Underperform from Neutral and reduced its price target significantly to $13.00 from $25.00. Similarly, Wolfe Research reiterated its Underperform rating with a $15.00 price target, expressing concerns over the lack of reiterated guidance in a recent 8-K filing. Wedbush also lowered its price target on C3.ai to $23.00 from $35.00 while maintaining an Outperform rating, attributing the adjustment to what it described as "a brutal quarter" for the company. Meanwhile, Needham maintained its Hold rating, noting the revenue miss. Additionally, C3.ai announced that CEO Thomas M. Siebel will step down due to health issues, prompting the initiation of a search for his successor. This search is being conducted by an international firm and overseen by a committee from the C3.ai board and management team.
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